The Strategic Vision behind Vietnam's International Trade Integration

Abstract

This paper evaluates the positioning of Vietnam in international trade. It addresses the key question of how Vietnam uses its participation in international trade agreements as a tool to ensure and advance national interest and security through increased economic power. The paper first examines how Vietnam participates in the international integration of the ASEAN Economic Community (AEC), and then looks at the importance for Vietnam to be outward-looking; that is, to participate in trade agreements outside the South-East Asian region. Finally, I examine how reforms required under international trade agreements push Vietnam into domestic economic reforms. My conclusion is that the political elite of Vietnam has identified trade, export-oriented growth and international economic integration as international policy preferences and has used international trade integration as a strategic instrument to maximise these national priorities within the regional and international trade system. Therefore, Vietnam has a very strategic view on international trade integration and uses it as an instrument to ensure its national interest and security through increased economic power. Through careful selection of trade agreements, Vietnam aims to position itself in a strategically advantageous position vis-à-vis other economies of the AEC, to ensure continued economic growth through preferential access to key markets and to push through some of the more difficult and sensitive domestic economic reforms, using its commitments under external trade agreements as a lock-in mechanism.

Effects of Foreign Direct Investment and Trade on Labor Productivity Growth in Vietnam

“…Accession to these trade agreements not only promoted trade and investment liberalization, but also provided an instrument to lock in domestic reform that complemented the liberalization by creating a business-friendly regulatory framework. The domestic reform measures included the introduction of a trade dispute settlement mechanism, creating a level playing field between domestic and foreign firms and protection of intellectual properties (Deprez 2018;Vo et al 2019;OECD 2020). In particular, the accession to the WTO spurred FDI inflows into Vietnam thanks to these reform measures.…”

Educating and training labor force Under Covid 19; Impacts to Meet Market Demand in Vietnam during Globalization and Integration Era

“…The authors also provide policy recommendations to develop sustainable agriculture products in the context of the agreement toward economic and socio-cultural sustainability and inclusiveness for local people. Deprez (2018) mentioned that political elite of Vietnam has identified trade, export-oriented growth and international economic integration as international policy preferences and has used international trade integration as a strategic instrument to maximise these national priorities within the regional and international trade system. Therefore, Vietnam has a very strategic view on international trade integration and uses it as an instrument to ensure its national interest and security through increased economic power.…”

Analisis Perbandingan Hukum Penanaman Modal Asing Antara Indonesia Dengan Vietnam (Tinjauan Dari Undang - Undang No. 25 Tahun 2007 Tentang Penanaman Modal dan Law No. 67/2014/QH13 On Investment)

“…Diketahui bahwa perusahaan di Tiongkok mengalokasikan ke beberapa negara asia tenggara, termasuk Vietnam akibat dampak dari perang dagang kedua negara tersebut (Deprez, 2018;Vu Thanh & Thi, 2019). Sebelumnya, Kondisi serupa juga terjadi pada 2017.…”