The Roles of Free Trade Agreements in Vietnam’s Foreign Trade during Covid-19

International Journal of Economics and Management Studies

© 2022 by SSRG - IJEMS Journal

Volume 9 Issue 4

Year of Publication : 2022

Authors : Thi Hong, Nguyen

10.14445/23939125/IJEMS-V9I4P105

How to Cite?

Thi Hong, Nguyen, "The Roles of Free Trade Agreements in Vietnam’s Foreign Trade during Covid-19," SSRG International Journal of Economics and Management Studies, vol. 9,  no. 4, pp. 37-43, 2022. Crossref, https://doi.org/10.14445/23939125/IJEMS-V9I4P105

Abstract:

Covid -19 has impacted many aspects of lives, and economics and trade are also very severe worldwide; Vietnam is also excluded. Many activities in Vietnam had to block from 2020-to 2021, causing this pandemic. Surprisingly, Vietnam's foreign trade balance was still surplus in 2020 and 2021, and the trade growth rate in 2021 was higher than in 2020. Especially, trade-in and outflows from FTA members increased greater than one non-FTA member. More interesting, Vietnam's foreign trade with the new FTA has increased impressively. However, Covid-19 impacts private and state-owned enterprises more severely than FDI enterprises, especially during some months blocking all activities in Vietnam.

Keywords:

Covid-19, Exports, FTAs, Imports.

References:

[1] Arıkboğa, The Better Life Index and the Fiscal Policies During the COVID-19 Pandemic, Handbook of Research on Challenges in Public Economics in the Era of Globalization. (2020) 142-161.
[2] A. Muzaffer, COVID-19: Its Impact on International Trade and Relations, International Journal of Science and Research. 9(6) (2020) 792-795.
[3] A. Nicita and M. Saygili, Trade Agreements and Trade Resilience during COVID-19 Pandemic, UNCTAD Research Paper. 70 (2021) 1- 13.
[4] E. L. Matezo and B. M. Matondo, The Effect of COVID-19 on International Trade: Evidence from Sub-Saharan Africa, American Journal ofIndustrial and Business Management. 12 (2022) 73-87. https://doi.org/10.4236/ajibm.2022.121006.
[5] I. A. Kanu, COVID-19 and the economy: an African perspective. Journal of African Studies and Sustainable Development. 3(2) (2020) 29-36.
[6] International Monetary Fund (IMF), World economic outlook update, Washington, D.C.: IMF. (2021).
[7] K. Hayakawa and H. Mukunoki, Impacts of COVID-19 on global value chains, Developing Economies. 59(2) (2021 a.) 154–177.
[8] K. Hayakawa and H. Mukunoki, Impacts of COVID-19 on international trade: evidence from the first shock, Journal of the Japanese and International Economies. 60 (2021 b.) 101-135.
[9] K. Hayakawa and H. Mukunoki, Impacts of lockdown policies on international trade, Asian Economic Papers. 20(2) (2021) 123–141.
[10] M. Ando and F. Kimura, East Asian Production Networks Go Beyond the Gravity Prediction, ERIA Discussion Paper Series. 45 (2022) 58- 88.
[11] M. Maliszewska, A. Mattoo, D. van der Mensbrugghe, The Potential Impact of COVID-19 on GDP and Trade A Preliminary Assessment, World Bank Group, Policy Research Working Paper 9211. (2020).
[12] M. Fouquin and J. R. Chaponnière, Vietnam: the last dragon - 1/2: International Openness: A Guide to Vietnam's Economic Policy, CEPII. (2020).
[13] M. Kokalari, H. Tran, COVID-19’s Economic Impact on Vietnam Intensifies, Economist’s Note April 6. (2020).
[14] OECD, COVID-19 and International Trade: Issues And Actions. (2020).
[15] L. Gruszczynski, The COVID-19 Pandemic, and International Trade: Temporary Turbulence or Paradigm Shift? European Journal of Risk Regulation. 11 (2020) 337–342. doi:10.1017/err.2020.29.
[16] Q. P. Le, Impact of COVID-19 on Vietnam’s International Trade and Policy Responses, KIEP Visiting Scholars Program. (2020) 69-84.
[17] S. L. Baier, J. H. Bergstrand, and M. Feng, Economic Integration Agreements and the Margins of International Trade, Journal of International Economics. 93(2) (2014) 339-350.
[18] T. L. Ha and V. H. Bui, Impacts of COVID-19 outbreak on Vietnam’s foreign trade. Russian Journal of Vietnamese Studies. 2(4) (2020) 27– 36.
[19] T. H. O. Nguyen and W.C. Chen, the Lasting Effects of Economic Integration Agreements on Trade, Journal of Economics and Management. 15(2) (2019) 221-240.
[20] T. H. O. Nguyen and T. L. Duong, Diversion Effect of Economic Integration Agreements, VNU Journal of Science: Economics and Business. 35(5E) (2019) 28-41. 
[21] T. H. O. Nguyen; T. T. T, Phan, the Effects of Free Trade Agreements on Export Diversification of Vietnam, SSRG International Journal of Economics and Management Studies. 7(11) (2020) 65-75 doi:10.14445/23939125/IJEMS-V7I11P11 0.
[22] N. M. Pham, T. H. Nguyen, H. K. Le., T. V. Hoang, K. L. Nguyen, Impacts of the new generation of free trade agreements (FTAs) on the development of export-import markets of members - Vietnam case study, The Russian Journal of Vietnamese Studies. 2(3) (2018) 18-31. doi: 10.24411/2618-9453-2018-00002.
[23] J. D. Lima, A. Aguiar, and I. N. Ronzheimer, Economic and social effects of a possible trade agreement between Latin America and the Asia-Pacific region, International Trade series. 168 (2021) 1-52.
[24] UNCTAD, Improving access to medical products through trade: what can regional trade agreements do in times of crisis?, (2020).
[25] UNCTAD, Impact of the Covid-19 pandemic on trade and development: Transitioning to a new normal. (2020).
[26] X. Liu X, E. Ornelas, and H. Shi, The Trade Impact of the COVID-19 Pandemic, CESifo Working Paper. 9109 (2021)