Vietnam : Deepening International Integration and Implementing the EVFTA
Following from Vietnam’s ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in late 2018 and its effectiveness from January 2019, and the European Parliament’s recent approval of the European Union-Vie...
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World Bank, Hanoi
2020
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| Online Access: | http://documents.worldbank.org/curated/en/866871589557725251/Vietnam-Deepening-International-Integration-and-Implementing-the-EVFTA http://hdl.handle.net/10986/33787 |
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okr-10986-337872021-05-25T09:38:06Z Vietnam : Deepening International Integration and Implementing the EVFTA World Bank GLOBALIZATION GLOBAL INTEGRATION FREE TRADE AGREEMENT DISTRIBUTIONAL IMPACT LEGAL GAP ASSESSMENT PREFERENTIAL ACCESS TARIFF REDUCTION RULES OF ORIGIN NON-TARIFF MEASURES FOOD SAFETY FOREIGN DIRECT INVESTMENT DISPUTE RESOLUTION TRADE INFORMATION PORTAL Following from Vietnam’s ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in late 2018 and its effectiveness from January 2019, and the European Parliament’s recent approval of the European Union-Vietnam Free Trade Agreement (EVFTA) and its subsequent planned ratification by the National Assembly in May 2020, Vietnam has further demonstrated its determination to be a modern, competitive, open economy. As the COVID-19 (Coronavirus) crisis has clearly shown, diversified markets and supply chains will be key in the future global context to managing the risk of disruptions in trade and in supply chains due to changing trade relationships, climate change, natural disasters, and disease outbreaks. In those regards, Vietnam is in a stronger position than most countries in the region. The benefits of globalization are increasingly being debated and questioned. However, in the case of Vietnam, the benefits have been clear in terms of high and consistent economic growth and a large reduction in poverty levels. As Vietnam moves to ratify and implement a new generation of free trade agreements (FTAs), such as the CPTPP and EVFTA, it is important to clearly demonstrate, in a transparent manner, the economic gains and distributional impacts (such as sectoral and poverty) from joining these FTAs. In the meantime, it is crucial to highlight the legal gaps that must be addressed to ensure that national laws and regulations are in compliance with Vietnam’s obligations under these FTAs. Readiness to implement this new generation of FTAs at both the national and subnational level is important to ensure that the country maximizes the full economic benefits in terms of trade and investment. This report explores the issues of globalization and the integration of Vietnam into the global economy, particularly through implementation of the EVFTA. 2020-05-21T15:06:36Z 2020-05-21T15:06:36Z 2020-05-01 Report http://documents.worldbank.org/curated/en/866871589557725251/Vietnam-Deepening-International-Integration-and-Implementing-the-EVFTA http://hdl.handle.net/10986/33787 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Hanoi Economic & Sector Work Economic & Sector Work :: Foreign Trade, FDI, and Capital Flows Study East Asia and Pacific Vietnam |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
GLOBALIZATION GLOBAL INTEGRATION FREE TRADE AGREEMENT DISTRIBUTIONAL IMPACT LEGAL GAP ASSESSMENT PREFERENTIAL ACCESS TARIFF REDUCTION RULES OF ORIGIN NON-TARIFF MEASURES FOOD SAFETY FOREIGN DIRECT INVESTMENT DISPUTE RESOLUTION TRADE INFORMATION PORTAL |
| spellingShingle |
GLOBALIZATION GLOBAL INTEGRATION FREE TRADE AGREEMENT DISTRIBUTIONAL IMPACT LEGAL GAP ASSESSMENT PREFERENTIAL ACCESS TARIFF REDUCTION RULES OF ORIGIN NON-TARIFF MEASURES FOOD SAFETY FOREIGN DIRECT INVESTMENT DISPUTE RESOLUTION TRADE INFORMATION PORTAL World Bank Vietnam : Deepening International Integration and Implementing the EVFTA |
| geographic_facet |
East Asia and Pacific Vietnam |
| description |
Following from Vietnam’s ratification of
the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP) in late 2018 and its
effectiveness from January 2019, and the European
Parliament’s recent approval of the European Union-Vietnam
Free Trade Agreement (EVFTA) and its subsequent planned
ratification by the National Assembly in May 2020, Vietnam
has further demonstrated its determination to be a modern,
competitive, open economy. As the COVID-19 (Coronavirus)
crisis has clearly shown, diversified markets and supply
chains will be key in the future global context to managing
the risk of disruptions in trade and in supply chains due to
changing trade relationships, climate change, natural
disasters, and disease outbreaks. In those regards, Vietnam
is in a stronger position than most countries in the region.
The benefits of globalization are increasingly being debated
and questioned. However, in the case of Vietnam, the
benefits have been clear in terms of high and consistent
economic growth and a large reduction in poverty levels. As
Vietnam moves to ratify and implement a new generation of
free trade agreements (FTAs), such as the CPTPP and EVFTA,
it is important to clearly demonstrate, in a transparent
manner, the economic gains and distributional impacts (such
as sectoral and poverty) from joining these FTAs. In the
meantime, it is crucial to highlight the legal gaps that
must be addressed to ensure that national laws and
regulations are in compliance with Vietnam’s obligations
under these FTAs. Readiness to implement this new generation
of FTAs at both the national and subnational level is
important to ensure that the country maximizes the full
economic benefits in terms of trade and investment. This
report explores the issues of globalization and the
integration of Vietnam into the global economy, particularly
through implementation of the EVFTA. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Vietnam : Deepening International Integration and Implementing the EVFTA |
| title_short |
Vietnam : Deepening International Integration and Implementing the EVFTA |
| title_full |
Vietnam : Deepening International Integration and Implementing the EVFTA |
| title_fullStr |
Vietnam : Deepening International Integration and Implementing the EVFTA |
| title_full_unstemmed |
Vietnam : Deepening International Integration and Implementing the EVFTA |
| title_sort |
vietnam : deepening international integration and implementing the evfta |
| publisher |
World Bank, Hanoi |
| publishDate |
2020 |
| url |
http://documents.worldbank.org/curated/en/866871589557725251/Vietnam-Deepening-International-Integration-and-Implementing-the-EVFTA http://hdl.handle.net/10986/33787 |
| _version_ |
1764479516940435456 |