Vietnam: Free Trade Areas

335
DOI: 10.20542/0131-2227-2016-60-3-72-82

V. Mazyrin, Institute for Far Eastern Studies, Russian Academy of Science, 32, Nakhimovskii Prosp., Moscow, 117997, Russian Federation (mazyrin_v@mail.ru

Abstract. The paper provides comparative characteristics of free trade areas (FTA) with Vietnam’s participation, and attempts to summarize his rich and instructive experience in this realm. The first section analyzes the reasons of creation and the balance of power in the FTA with the Eurasian Economic Union (EAEU). In the second section it describes the general approach of Vietnam towards integration into the world economy and presents the FTA network (“spaghetti bowl”) set up by Hanoi. The author assesses the factors that determined the choice of Vietnam and the participants of the EAEU while establishing their FTA. He reveals the motivation of the EAEU leaders, particularly Russia, in their decision, the importance of economic aspects of cooperation with the first partner in the FTA framework. Thus, it becomes possible to discover the importance of new integration union for both parties. Economic potential of the FTA members is estimated in order to define their respective roles, “weight category” and, finally, the main beneficiaries of the agreement. So far, we verify the correctness of the dissemination of findings from our analysis of trade between Russia and Vietnam (for which we have representative data) on the agreement at whole. The author explores the main parameters of the agreements with the Asia-Pacific countries and displays aspects of the FTA agreements different for the EAEU and other Vietnam partners. It makes easier to identify countries and regions that take the leaders’ position in the integration process. The composition of trade and other forms of interaction between participants of the FTA in both groups of Vietnam partners is highlighted and a tendency to boost them is revealed. The paper promotes estimations on the conditions, rate, magnitude and first results of liberalization of mutual trade, on safeguard measures applied to support domestic producers. It reveals the preferential treatment difference granted by FTA parties to each other and the reasons for these differences. In conclusion, the impact of the FTA network on competition between Russia (EAEU) and other Vietnam partners which occupied the best position in its market is stressed. 

Keywords: free trade area (FTA), Eurasian Economic Union (EAEU), Russia, Vietnam, trade, export, import, safeguard measures, preferential treatment, customs barriers, liberalization 


Registered in System SCIENCE INDEX

For citation:
Mazyrin V. Vietnam: Free Trade Areas. World Eonomy and International Relations, 2016, vol. 60, no. 3, pp. 72-82. https://doi.org/10.20542/0131-2227-2016-60-3-72-82



Comments (0)

No comments

Add comment







Indexed

 

 

 

 

Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies

 

Current Issue
2024, vol. 68, No. 4
Topical Themes of the Issue:
  • Financial Contagion Propagation in Europe under the Impact of Global Shocks
  • Regional Powers on the African Continent: Trends and Prospects
  • Investment Activity of the PRC in the Kyrgyz Republic
  • “Land Grabbing” Concept: Global and National Aspects
Submit an Article
INVITATION FOR PUBLICATION
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.