Minister of Industry and Trade Vu Huy Hoang revealed Vietnam’spreparation progress for the establishment of the ASEAN EconomicCommunity (AEC) in an interview granted to the Vietnam News Agency onthe conclusion of the 21st ASEAN Economic Ministers’ Retreat inMalaysia.
The Minister underlined the VietnameseGovernment’s guidelines, programmes and strategies to implement thecommitments of the AEC formation, such as facilitating administrativeformalities for businesses and raising public awareness of opportunitiesand challenges when joining the community.
He citedVietnam as one of the leading state members with over 90 percent of itscommitments on the AEC establishment implemented, second only toSingapore.
Vietnam also took the lead ineliminating tariffs. Statistically, the country has already zeroed outnearly 90 percent of its tax rates and will strive to negate another 7percent of the tax rates between now and 2018, he noted.
The establishment of the AEC provides both opportunities andchallenges for Vietnam, especially its business community. Vietnam willhave a strong opportunity to learn from the experience of others inState management and business administration. On the other hand, thecountry will face increased competition, even domestically, he said.
He called on State management agencies and businesses to take adequatemeasures and prepare carefully for the establishment of the AEC onDecember 31.
The AEM Retreat-21 taking place in KotaBahru from February 28 to March 1 is an important event in preparationfor the ASEAN Summits next April and November, Hoang said.
The meeting evaluated the implementation of commitments on the AECformation and continued discussing measures to facilitate non-tarifftrade and business operations.
Ministers showedresolve to conclude negotiations on the Regional Comprehensive EconomicPartnership (RCEP) agreement in late 2015, which will promote economic,trade and investment cooperation between the ASEAN and Japan, theRepublic of Korea, China, New Zealand, Australia, and India.
Founded in 1967, the Association of Southeast Asian Nations (ASEAN)includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Singapore, Thailand and Vietnam.-VNA
The Minister underlined the VietnameseGovernment’s guidelines, programmes and strategies to implement thecommitments of the AEC formation, such as facilitating administrativeformalities for businesses and raising public awareness of opportunitiesand challenges when joining the community.
He citedVietnam as one of the leading state members with over 90 percent of itscommitments on the AEC establishment implemented, second only toSingapore.
Vietnam also took the lead ineliminating tariffs. Statistically, the country has already zeroed outnearly 90 percent of its tax rates and will strive to negate another 7percent of the tax rates between now and 2018, he noted.
The establishment of the AEC provides both opportunities andchallenges for Vietnam, especially its business community. Vietnam willhave a strong opportunity to learn from the experience of others inState management and business administration. On the other hand, thecountry will face increased competition, even domestically, he said.
He called on State management agencies and businesses to take adequatemeasures and prepare carefully for the establishment of the AEC onDecember 31.
The AEM Retreat-21 taking place in KotaBahru from February 28 to March 1 is an important event in preparationfor the ASEAN Summits next April and November, Hoang said.
The meeting evaluated the implementation of commitments on the AECformation and continued discussing measures to facilitate non-tarifftrade and business operations.
Ministers showedresolve to conclude negotiations on the Regional Comprehensive EconomicPartnership (RCEP) agreement in late 2015, which will promote economic,trade and investment cooperation between the ASEAN and Japan, theRepublic of Korea, China, New Zealand, Australia, and India.
Founded in 1967, the Association of Southeast Asian Nations (ASEAN)includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Singapore, Thailand and Vietnam.-VNA
