Domestic enterprises in Vietnam advised to optimise FTAs

Good returns: A woman tending to buffaloes next to a paddy field in Vietnam’s Dien Bien province. FDI disbursement in the country hit a record high of more than US$23bil in 2023. — AFP

HANOI: Though free trade agreements (FTA) have so far helped Vietnam boost exports significantly, domestic enterprises need to further study markets and better focus on the country’s strengths to optimise the deals.

According to statistics from the Industry and Trade Ministry (MIT), since joining the first FTA with Asean more than 30 years ago, Vietnam has so far signed and implemented 16 FTAs while negotiating another three FTAs.