The Association of Southeast Asian Nations (ASEAN) and Vietnam recently signed a Framework Agreement on Comprehensive Economic Cooperation. This agreement will aim to deepen economic ties between ASEAN member countries and Vietnam, further strengthening the economic integration of the region.
The Framework Agreement takes into account the current state of economic cooperation between ASEAN and Vietnam and sets out a roadmap for future cooperation. It outlines the various sectors in which ASEAN and Vietnam will collaborate, including trade in goods, trade in services, investment, intellectual property, e-commerce, and competition.
The Framework Agreement on Comprehensive Economic Cooperation will ensure that ASEAN and Vietnam work together to promote bilateral trade. This will be achieved through the implementation of measures that will make it easier for businesses to trade across borders. It will also create a level playing field for businesses in both regions, which will encourage investment and create new job opportunities.
The agreement also aims to promote sustainable development in the region. This will be achieved by promoting environmentally sustainable practices, as well as encouraging the use of renewable energy sources. Additionally, the agreement will promote social welfare, fair labor practices, and human rights, ensuring that this economic cooperation benefits people across the region.
With the Framework Agreement in place, ASEAN and Vietnam will be able to deepen their economic cooperation and create a more integrated regional economy. This will benefit businesses, workers, and consumers in the region, and help to create more sustainable economic growth.
Overall, the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and Vietnam is an important step towards regional economic integration and cooperation. By working together, ASEAN and Vietnam can create a more prosperous, sustainable, and equitable region for all.