Minister of Industry and Trade Tran Tuan Anh affirms the positive impact of FTAs on Vietnam's economy. (Photo: tapchicongthuong.vn)

Addressing the meeting on Wednesday, Minister of Industry and Trade Tran Tuan Anh briefed on progress of 13 existing FTA’s implementation and Vietnam’s on-going negotiation in 3 other pacts.

These FTA’s have brought about positive impact on Vietnam’s economy, tripling its GDP and generating a 350% increase in export revenue. Vietnam’s total export earning from FTA markets in 2019 reached more than 123 billion USD, while in 2004 Vietnam had 2 FTA partners with a combined export turnover of only 7 billion USD.

Vietnam’s international position following the signing of those FTAs has risen with expanded export markets, more developed financial services and better policies in line with FTA commitments. It has proved Vietnam’s correct policy in international integration and government’s timely instruction, the participants said.