Prime Minister Pham Minh Chinh, in a directive issued late on Tuesday, urged the trade ministry to conclude or start free trade agreement talks with India, Brazil, Pakistan, Egypt and other markets in the Middle East, Africa, Latin America, Central Asia and Eastern Europe.
Vietnam has signed 17 bilateral or multilateral free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and Regional Comprehensive Economic Partnership Agreement, plus pacts with the European Union, Japan and South Korea. It has no free trade deal with the United States.
“Since the beginning of 2025, the world situation has seen many new, complicated, and unpredictable developments, with more intense strategic competition among major countries, widespread trade wars, and declining world economic prospects, posing many difficulties and challenges” the directive said.
He also told the central bank to boost lending to people under the age of 35 to buy homes and offer soft loans to firms most affected by the U.S. tariffs.
Chinh told the trade ministry to encourage e-commerce platforms to implement preferential policies to promote the consumption of domestically produced goods and local products and facilitate the deliveries of items even to remote areas.
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