The signed free-trade agreements (FTAs) would enable Vietnam to reel in commercial and investment flows in serving its growth model restructuring.

The signing and negotiations of both bilateral and multilateral cooperation documents and FTAs, especially the Vietnam-Japan Economic Partnership Agreement (VJEPA), the Trans-Pacific Partnership (TPP) and the EU-Vietnam FTA, constitutes positive steps Vietnam had taken to integrate more deeply into the world economy.

FTAs are forecast to heavily influence the country’s export flows from raw materials to industrial manufacturing products.

Regarding TPP, a research in 2012 of Professor Peter A.Petri from US-based University Brandeis predicted that Vietnam would benefit largely from exporting industrial products, saying the rate would be between 21-35 per cent.

TPP is said to assist Vietnam in forging strong linkages with international supply chains to gain better growth quality. Meanwhile, FTA can help improve the manufacturing sector’s competitiveness by luring more FDI in hi-tech and value-added areas….

Source: http://www.vir.com.vn