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There are opinions that Vietnam have benefited very little from the trade agreements signed in recent years, what is your point of view on this issue?

The signing of trade agreements brings a lot of benefits for Vietnam's economy, including GDP growth, export growth, and also to put pressure on reforming the internal economy. However, looking back the past years, after Vietnam joined the WTO and afterVietnam prepared for signing some new trade agreements, facts show that there is a divergence in growth between different economic sectors. The very strong growth of companies with foreign investment shows that they have a very clearand basic strategy, and they want to take advantage of trade agreements. As for Vietnam enterprises, some large companies have begun to have orientation and make the best of these advantages, but the majority of small and medium enterprises do not have careful preparation. I think this lack of preparation stems from many causes, the first one is due to their capital resources are not enough, they cannot access information about these agreements, along with the technological investment restrictions...

As for the trade agreementssigned with ASEAN countries, export turnoveris now much lower than import, according to you, what is the cause of this situation?

When the ASEAN Economic Community (AEC) took effect from 31/12/2015, the fact is thatlots of countries saw the Vietnam market as a key market for the sale of goods. With a population of over 90 million people, Vietnam is a potential market compared to other markets in the region with an elderly population. This feature leads to the situation where import of goods have been increasing in recent years and the upcoming period.

Besides, I think the export trend of Vietnam will also change in the future, as some companies in the ASEAN region will choose Vietnam to produce and supply goods for the ASEAN region. Theprocess from when these enterprises invest intoVietnam until they export and sale goods to other markets will need a period for investing and production expanding. So I think during the next few years, growth in exports of Vietnam will be accelerated to sell to the ASEAN region market. However, in this context, the majority of FDI enterprises still get benefit the most, because they take advantage of cheap labor, preferential tax policies and preferentialstate policies.

So what should these companies doin this context, sir?

In my opinion these companies need to change the way of business. The business is based on relationships, if it’s based on short-term trading, it will not be able to survive. Enterprises themselves must acknowledge frankly that if they do not invest, not innovate their technology, not make a difference with the goods of foreign enterprises then it is very difficult to survive. Accordingly, these companies need to focus more on product quality, to ensure the credibility of goods supplying, and being on time. Because if they are unable to maintain those brand elements then it is really difficult to have sustainable development.

The government also needs a clearly defined strategy for Vietnam in taking advantages of the trade agreements in ASEAN, then the companies need to have a specific plan to take these advantages. Therefore, providing information on the market, helping businesses perceiving the information on the market in the ASEAN region to seize the advantages is very important. When meeting the companies, I found that most of them are very reluctant to come out to foreign markets. They still consider Vietnam's market with great potential and want to focus on this market. However, we must also notice that, in addition to the protection of our domestic market we also need to expand the market to ensure fair competition with other countries.

Can Vietnam take full advantage of preferences in VN-EAEU FTA?

Sir, could you give some forecast for the near future, which changes from the international market will directly impact on the Vietnameconomy and enterprises?

Vietnam's economy has a very deep integration into the world economy, so any changes would also impact on Vietnam's economy. However, Vietnam will be affected heavily by China, if the Chinese economy is being shocked or damaged, it would impact significantly onVietnam. US election results will also impact heavily on the economic development of Vietnam because US is our major partner. With the Brexit event, although the United Kingdom is not a major partner of Vietnam, but if this trend continues to expand into other countries in the EU, it will also greatly impact Vietnam, because the EU is a very important trade partner of us.

In this context we must be very active and flexible. And I believe the Government has also been active in seeking bilateral negotiations. In the caseswhere large agreements, such as TPP, had any obstacles, we would look for bilateral negotiations for taking advantages.

Thank you, sir!