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Closer linkages between trade and general economic planning in the 1980s had mixed effects. Fluctuating commodities prices at home and market-oriented trade with, and investment from, Western countries were too uncertain to plan. Consequently, the Second Five-Year Plan was crippled when hoped-for Western investment failed to materialize.
Below is a list of all the bilateral trade agreements Vietnam is currently participating in, organized by the partnering country. Chile: Vietnam-Chile Free Trade Agreement, signed 12 November, 2011; came into effect on 4 February, 2014. [1] Cuba: Vietnam–Cuba Free Trade Agreement, signed 9 November 2018; came into effect on 1 April, 2020. [2]
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The former Ministry of Trade has its origins in 1945 with the formation of the modern National Unification Cabinet, and became a ministry in its own right in 1955. [1] The Ministry of Trade merged with the Ministry of Industry in 2007 to form the Ministry of Industry and trade. The current Minister of Industry and Trade is Nguyễn Hồng Diên.
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Meanwhile, South Vietnam's free market economy conducted extensive trade with other anti-communist or non-communist countries, such as the US, Canada, France, West Germany, Japan and Thailand. The Southern economy between 1954 and 1975 became increasingly dependent on foreign aid, particularly in the late 60s until the Fall of Saigon .
The EU-Vietnam Investment Protection Agreement (EVIPA) was also agreed which is a bilateral investment treaty. [1] The agreement deepens the Vietnam–European Union relations and was adopted by Council Decision (EU) 2020/753 of March 30, 2020 on the conclusion of the free trade agreement between the EU and Vietnam. [2]