Lawmakers become more involved in FTA negotiations

HANOI, April 18 (VNA) - The National Assembly (NA) Committee for External Relations and the US Agency for International Development on April 17 held a conference to provide information about Free Trade Agreements (FTAs) for NA deputies. Speaking at the Ho Chi Minh City talks, Ngo Duc Manh, deputy head of the committee, said that the supply will help increase the deputies’ awareness of FTAs and make the approval of an FTA easier when it is submitted to the NA. Participants agreed that the connection between negotiators, NA deputies and businesses is an effective way to raise the efficiency of the negotiation process. Silvia Hernandez, former Tourism Minister of Mexico and USAID expert, said that with a different name in each country, the legislative body always participates constructively and has its particular power in concretising FTAs for the benefits of each nation and its locals. Participants also exchanged views on a new generation of FTAs, their influences on Vietnam, as well as opportunities and challenges they will provide the country. Deputy Minister of Industry and Trade Tran Quoc Khanh said that a new-generation FTA, which is being pursued by the US and the European Union, does not limit trade to goods exchanges but expands to services, investment and intellectual property. Khanh also stressed the need for Vietnam to participate in FTA negotiations in order to diversify and rebalance the country’s export markets as well as to serve its ongoing economic restructuring and growth model reform. To date, Vietnam has signed eight FTAs, while seven others are under negotiation.-VNA