The launch ceremony for the project “Promoting the utilization of the Regional Comprehensive Economic Partnership (RCEP), especially in the field of digital trade, with the participation of the private sector and stakeholders”, organized by the Ministry of Industry and Trade in coordination with the Regional Trade for Development Program (RT4D), took place on the morning of March 23rd in Hanoi.

Mr. Le Trieu Dung, Director of the Multilateral Trade Policy Department (Ministry of Industry and Trade), speaks at the event.

(Photo: thoibaotaichinhvietnam.vn)

The launch ceremony aimed to introduce the project's objectives, implementation roadmap, and key activities, while also creating a forum for government agencies, business support organizations, industry associations, and the business community to exchange views on the implementation and utilization of RCEP in Vietnam.

Speaking at the launch ceremony, Mr. Le Trieu Dung, Director of the Multilateral Trade Policy Department (Ministry of Industry and Trade), said that the RCEP, signed in November 2020 between the Association of Southeast Asian Nations (ASEAN) and five partners: China, Japan, South Korea, Australia, and New Zealand, is currently the world's largest free trade area with approximately 2.3 billion consumers, accounting for nearly 30% of the global population and about 30% of global GDP. The implementation of the RCEP agreement has contributed to facilitating trade and investment in the region, supporting businesses to more effectively utilize regional supply chains.

For Vietnam, RCEP is becoming one of the important drivers for expanding export markets and strengthening international economic integration. By 2025, Vietnam's export turnover to RCEP markets is expected to reach over $172 billion, an increase of more than 30% compared to 2021.

The project “Promoting the Leverage of the RCEP Agreement, Particularly in the Digital Trade Sector, with the Participation of the Private Sector and Stakeholders” is implemented to raise awareness, enhance capacity, and support Vietnamese businesses, especially micro, small, and medium-sized enterprises, to more effectively utilize the opportunities from the Agreement. The project also aims to promote the participation of women-owned businesses, rural businesses, and businesses that inclusively support people with disabilities, thereby contributing to ensuring inclusiveness and sustainability in the process of leveraging RCEP.

Source: Compiled by the Multilateral Trade Policy Department, Ministry of Industry and Trade of Viet Nam