Rcep

Vietnam is a key beneficiary of the Regional Comprehensive Economic Partnership (RCEP).

As Vietnam is projected to be one of the fastest-growing economies in Asia in the next few years, trade with New Zealand is estimated to increase further, mostly after the two countries elevated the relations to Strategic Partnership in 2020.

Diversification of export markets and higher product quality helped Vietnam maintain the agricultural sector’s resilience against the pandemic and continue its upward trend.

The deal could be the new driver for Vietnam’s economy to speed up the recovery process and thrive in the post-pandemic period.

The implementation of the RCEP Agreement starting January 1 next year will give a tremendous boost to the post-Covid-19 economic recovery efforts.

Vietnam’s export turnover may expand by 10% this year, exceeding the original target of 4-5% set by the Government.

Vietnam is in a favorable condition to take advantage of free trade agreements (FTA) that the country is a part of, as well as growing global demand in the late-year shopping season.

The Regional Comprehensive Economic Partnership (RCEP) was one of Vietnam’s major achievements when the country was serving as the Chair of ASEAN in 2020.

Vietnam plans to organize a digital investment conference in Q3 this year, promoting investment into industrial parks or economic zones online.

The move will help ensure the effective utilization of the Agreement on Singapore-Vietnam Economic Connectivity.