Vietnam and ASEAN

Paper Summary:

This paper deals withs the issue of economic cooperation and integration within the framework of the Association of Southeast Asian Nations (ASEAN). The opportunities and challenges facing Vietnam in its regional economic cooperation and integration are also discussed.

Outline
Introduction
ASEAN and the Issue of Economic Integration
ASEAN Mechanisms
ASEAN Developments
ASEAN Free Trade Agreement - A Vehicle for Economic Cooperation and Integration
VIETNAM and AFTA
Vietnam's Present Economic Situation
Vietnam and ASEAN Economic Relations
Opportunities and Challenges Facing Vietnam
Conclusion

From the Paper:

"Industrialization and modernization of Vietnam's economy is a paramount goal pursued by the government. Industry is a crucial sector that has nearly doubled its output from 1991-1997, while recent growth rates have been in the 10-15% a year range. Billions of dollars have been invested in industrial foreign direct investment, and manufactured exports have grown rapidly, albeit from low bases. In an unusual development that is consistent with the goal of the government, most of the growth in industry came from the state sector. Growth in industrial output has exceeded 10% per year since 1991. Industry and construction together constituted 30% in 1995, compared with 23% in 1990. Similarly, the service sector has grown to 43%, compared with 39% in 1990. All of this indicates that Vietnam's economic structure has been shifting rapidly from agriculture towards industry and services."

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