Hanoi (VNA) – Standing Deputy Prime Minister Pham Binh Minh hassigned a decision approving a plan on the implementation of the RegionalComprehensive Economic Partnership (RCEP), which became effective from January1.

The plan aims to assign tasks and responsibilities torelevant agencies and organisations, decide on measures related to directionand administration, and other measures to implement this agreement fully and effectively.

Accordingly, ministries, ministerial-level agencies,Governmental agencies, People's Committees of provinces and centrally-runcities will step up dissemination of information about RCEP and legal documentsrevised, supplemented, annulled or promulgated to implement the agreement forrelevant entities, especially those that may be affected such as the businesscommunity, industry associations, cooperatives, management agencies at thecentral and local levels, and workers through the media, websites,publications, documents, training courses, seminars, and dialogues.

Attention will be paid to improve and intensify theprovision of information and forecasts about import and export markets as wellas the domestic market to help Vietnamese enterprises understand more about theinformation, technical requirements and import-export management regulations ofRCEP signatories, thus facilitating their making and implementation of businessand investment strategies.

Ministries, sectors and localities will build programmes tosupport and improve competitiveness for industries and businesses, especiallymicro-, small- and medium-sized ones, cooperatives, and farmer households inaccordance with international commitments; and prepare response solutions andsupport policies for industries that are affected greatly and directly from theimplementation of the agreement.

The plan also stresses the importance of focusing on restructuringagriculture, digital transformation, application of science and technology andadvanced production models so as to improve product quality and traceability,and protect the environment, thus helping meet national and internationalstandards.

Signed in November 2020, RCEP brings together 10 ASEANmember states, along with China, Japan, the Republic of Korea, Australia andNew Zealand, covering 30 percent of the global gross domestic product (GDP)worth 26.2 trillion USD.

It forms a market with 2.2 billion consumers, and becomesthe largest free trade area in the world in terms of population. It willeliminate tariffs on as much as 92 percent of goods traded between itssignatories eventually, expand market access for investment, harmonise rulesand regulations, and strengthen the supply chains within the massive free tradezone./.