GDP VIETNAM PREDICTED STRONG GROWTH DUE TO THE INFLUENCE OF FREE TRADE AGREEMENTS

28/11/2019, 15:30 PM

In the period 2021-2025, Vietnam will have many opportunities and challenges from the new generation of free trade agreements.

The integration of free trade agreements, in particular, the Trans-Pacific Partnership Agreement (CPTPP) and the Vietnam – EU Free Trade Agreement (EVFTA) will have a deep, broad impact on the Vietnam economy in the period 2021-2025.

Forecast, EVFTA will have a greater impact than CPTPP because CPTPP has had many members participating in other FTA agreements that Vietnam has participated in before.

The two EVFTA agreements and CPTPP can help Vietnam GDP increase by 4.3% and 1.3% in 2030. The export turnover of Vietnam to the EU to the year 2030 is projected to increase by approximately 44.4%; Exported to countries in CPTPP to 2035 increased by 14.3%.

If Vietnam can take advantage of technology in the fourth industrial revolution and attract investment with the improvement of quality, development of the current economic platform, the GDP is expected growth with 7.5 per cent per year.

(Vinanet)

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