Free trade policy in Vietnam in the context of international integration

Abstract

In the context of international integration, free trade has had a strong impact on Vietnam's economy. Participation in free trade agreements (FTAs) has brought both opportunities and challenges to this country. Throughout this process, the Vietnamese State plays a leading role in planning and implementing free trade policies. This article aims to systematize the theoretical framework of free trade, the role of the state in the field of free trade, and the challenges that free trade poses to developing countries; analyze the current state of the free trade policy plan and implementation in Vietnam; and propose solutions to improve policies for Vietnam in the new phase. This study employs a qualitative policy analysis method based on a narrative-oriented literature review. It uses secondary data sources, including academic publications, policy reports, and legal texts on free trade. The findings indicate that, alongside notable achievements, the formulation and implementation of free trade policies in Vietnam reveal many limitations. Accordingly, the paper proposes several solutions to improve Vietnam’s free trade policy, including further adjusting policies appropriately, improving the system of standards and technical regulations, strengthening tools for evaluating implementation effectiveness, and focusing on a number of urgent and specific issues in the implementation of the free trade policy. These solutions are crucial for Vietnam to enhance the effectiveness of its free trade policies in the context of international integration.