Tải bản đầy đủ (.docx) (20 trang)

tạp chí kinh tế đối ngoại đề tài ĐÁNH GIÁ HOẠT ĐỘNG XUẤT KHẨU CỦA VIỆT NAM SAU KHI GIA NHẬP WTO

Bạn đang xem bản rút gọn của tài liệu. Xem và tải ngay bản đầy đủ của tài liệu tại đây (118.4 KB, 20 trang )



ĐÁNH GIÁ HOẠT ĐỘNG XUẤT KHẨU CỦA VIỆT NAM
SAU KHI GIA NHẬP WTO
 !"#
$#%&#'(#)*+,!*-!./0123%40+5607#6+8#69
%2)#2$:;#3!#%2" <=!>2=*0?#%!@#.A@# B#%#%C#
2%#%290. D# E# F#%!G0%B# %"2$#%B2+8#/0123%40
<=!>2=*%C#%B# %"#?+5AH2+I0A8 68$J#K2%&#L=0
3%!#:- 2=!=#%MNO D#62%P!+!Q*/R?$= 08 3%<#
%R#3!#%2"2# I0S!O!"2#?TNUV#*82LW %X2!@0+Y#%
6:Z#2%:P#+:Z L[UV#2$@#2%"!-!+Q+T#%!T%B2+8#
/0123%40 <=#:- 2=!=!+B#'\\]^'\__"2`0R <= T  %X
2!@0+Y#%6:Z# %2%1?.%B2+8#/0123%40 <=!>2=*20? F
L92)#2$:;#OGLW6:Z##%:#UaAYR#%%:;#A;!A@##!
%&#3%! %:= F#%C# %0?Q#A!"#*B#%OG %12
b3%F=c/0123%40.
1. Tăng trưởng kim ngạch xuất khẩu và độ mở của nền kinh
tế
B2+8#/0123%40 <=!>2=*+5 FA:- N%T22$!Q#
#B#*V 2$#!=!+B#'\\]^'\__K2OG!T2$Y.3!*#B %
/0123%40%#%F=+52)#6@#'6I#2$#OE#(#)*`0=.2$0#
Ad#%2)#'\ef#)*
d#%_c!*#B %/012#%MN3%40!=!+B#'\\_^'\__
0g#ch#%2T#2bLW6!>0 <=i
!> !=#%MN+5!jN/0123%40 <=!>2=*2)#
#%=#%2bkl.m2no#)*'\\]6@#+"#m'.]2no#)*'\\l0?
#%!@#6B*N%T2 =#)*'\\lO 08 3%<#%R#2! %h#%2%"
!-!2b!C=#)*+5 F2T +8#2!@0 9 +"#3"2`0R/0123%40 <=
!>2=*>`0R#)*'\\p.L0?2%T!3!#%2"2# I0Uq#+"##%0
I02!@0Ur# <=2%"!-!LV2!R*6*3!*#B %/0123%40 <=


!>2=*2)#2$:;#s*t^l.peuv UrOM?.+"##)*'\_\./012
3%40 <=!>2=*+5N%V %g!#%=#%%&#U9ATO+B22W +8
2)#2$:;# =%&##%YN2)#2$0#Ad#%_(._e <=!=!+B#
2$:- 3%!!=#%MN D##%: =%&#*V 2!@0_(e+G$=
2$#%!"#6:Z N%T22$!Q#/012#%MN3%40%#%F=OUY %OV
2$#2%P!3w#?"##)*'\__/0123%40 <=!>2=*+5+B2
#LW1#2:Z#6pm.p2no.+B2*x 2)#2$:;# =#%12
2$#!=!+B#'\\]^'\__tykeu.+:=3!*#B %/0123%402)#
1N'6I#3Q2b3%!!=#%MNt#)*'\\]u
0?#%!@#.2%s*%V2 T# s#2%:&#*B!2$##%C##)*
`0=Oq#607#6*82A!2T#3%F+W!O-!#B!2%:&#!>2=*
K2OGLW20?>2+W!.2%s*%V2 T# s#2%:&#*B!6@#+"#+X#%+!Q*
#)*'\\lO-! #LW_l2no#%:#+=# F/0%:-#!R*UI#
2$##%C##)*2!"N2%z%XLWf2!"#UI#+"#_O T# s#
 %04#%F= D#+=#2)#UI#+"#\ %x#2{6 T# s#
2%:&#*B! <=!>2=*+5 FL9 R!2%!>#+T#3Q
d#%'cT# s#2%:&#*B! %04#%F=
[1]
O2n6>f`0= T
#)*
0g#ch#%2T#2bLW6!>0
0123%40%#%F=L|+B2+:Z *x +=UB#%F=6}2:;#
3%! & 10%#%F= <=#:- /0123%402:&#x#O-! & 10
#%MN3%40 <=2%"!-!.2x 6/0123%40#%C#%#%F=+j#O-!
& 10*2%"!-!+=# I#%XLW*x +8N%r%ZN <= & 10
/0123%40 <=!>2=*2$0#Ad#%+B2m'.(e %x#2{*v2%#
/0123%40 <=!>2=*63%TN%r%ZNO-!#%0 I0 <=2%"!-!
SW##%F**v2%#*=?*v /0123%40%#+I0 <=!>2=*6
2$=#N%V 3%T tg* T LR#N%4*#%:`0I#T2$~L&L!#%.+g
A&!.+g2$:Z220?"2u•2$=#N%V #C.U>2•2$=#N%V #=*.U>2O

2$=#N%V #CU>23!*%v *F  D#2:&#x#6AW##%F**v2
%#*=?*v  F#%0 I0#%MN3%40 =#%122$@#2%"!-!s?6
*822h#%!>02h % 9  %A!"2!>2=*+=#2MN2$0#O+j#
#%C#*v2%# F#%0 I02!@0Ur# =2$@#2%"!-!
SR#_c%XLW*x +8N%r%ZN <= & 10/0123%40`0= T #)*
Năm '\\] '\\l '\\p '\_\
Chỉ số m_ mk mk m_
0g#ch#%2T#2bLW6!>0 <=
%X  LW N%V2%08  2%:&#  *B!
€'•
O %X  LW  /0%:-#  /012
3%40
€y•
2)##%=#% %2%1?2h#%#)#+8# <=/0123%40O+8
*;$126-# <=#G#3!#%2"
d#%yc%XLWN%V2%08 O/0%:-#/0123%40`0= T #)*
0g#c:P!O!"2292h#%2T#2bLW6!>0
T LW6!>02$@#+s? %x#2{#G#3!#%2"!>2#=* F+8*;
[=#? #6-#O2)#2$:;#3!#%2"2{$= #N%V2%08
#%!G0%&#O/0123%40-!2n2$#/0123%40A‚#mp.]eo
#)*'\_\./K22b =/0W#2%1N.!>2=*/"N2%x'y2$@#2,#LW
'\y#G#3!#%2". E#LO-! T #:- 6T#!G#!>2=* %X+x#
L=0=6=?L!=t3%7#2h#%+"#!#=N$zO##ƒ6%=!#G#
3!#%2" F+8*;$12 =u./"N2$@#%T!„=#.#i0W O!„=#
W!O-!#G#3!#%2"N%T22$!Q#.2n6>/0123%40LO-!o2%:P#
2%1N#%:%M2SR#6_ke.2$#3%!2n6>#?6_'e.=w6
leU`0?*73!#%2"$126-# <= T #G#3!#%2"#?"##)*
'\__ %XLW#? <=!>2=*+56@#+"#]p.peW +82)#2$:;#
<=/0123%40 =%&##%!G0LO-!2W +82)#2$:;# <=o.2n
6>!C=3!*#B %/0123%40LO-!o#? #2)# %x#2{

/0123%406/0%:-# <=#G#3!#%2"0?#%!@#. D#OdOM?*
Lx 3%{z <=#G#3!#%2"UaAY2,#2%:&#2$:- #%C#2%=?+,!
%v  jLW 2b*7!2$:P#A@##!A126Z! %/0123%40
2. Cơ cấu thị trường xuất khẩu
822$##%C#2%#% 7#2$#%B2+8#/0123%40 <=
!>2=*2$#!=!+B#'\\]^'\__6O!> U0?2$dO*;$8#2%Y
2$:P#/0123%40.+v A!>26+5 F %…+x#2:&#+W!OC# %H
2$@#2%Y2$:P#=wO†!*#B %/0123%40L=#2%Y2$:P#
=3w2)#mlet2:&#+:&#]2noƒ#)*'\__uOL=#2%Y
2$:P#†2)#l_.''et2:&#+:&#].y2noƒ#)*'\__u
2$#OE#(#)*
 
d#%kc%=?+,! & 102%Y2$:P#/0123%40 <=!>2=*
0g#ch#%2T#2bLW6!>0 <=i
%:OM?!>2=*Oq#U0?2$d+:Z  & 10/0123%403%T,#
+Y#%O-!212 R T #G#3!#%2" %< %W2 <=2%"!-!.2b%M2SR#.
$0#i0W .=w.†O$0#7#2$#L0W2!=!+B##?
$##%!@# x0 <=6=A=6=Uz‡t'\_\u.L9+=UB#OG2%Y2$:P#
+:Z 2T !R+G =A;!#F!jNN%s#2T#+:Z $<!$2$#%B2
+8#/0123%40
d#%(c!T2$Y %XLW!$L %=*##2%z3%0O9
[4]
O %XLW#q0
#%!@#
[5]
0g#ch#%2T#2bLW6!>0 <=
i0=(#)* %XLW!$L %=*##2%z3%0O9  F/0%:-#2)#
#%ˆO %XLW#q0#%!@# D#!R*#%ˆ.+!G0#? %x#2{ &
102%Y2$:P#/0123%40 <=!>2=*h2+=UB#%&#.#%:#L
O-! T #:- 2$#3%0O9 2%dL9+=UB##?+:Z +T#%!T6$12

=./"N2%x'. %XL=0$0#i0W 
3. Cơ cấu hàng hóa xuất khẩu của Việt Nam sau khi gia nhập
WTO
& 10/0123%402$#(#)*`0= <=!>2=**v Ur+5
FL92%=?+,!#%:# %:=2%9 L9$J$>2n2$##%F*%#
#%!@#6!>0O3%T#LR#+5!R*2byk.'e#)*'\\]/0W# E#
'].le#)*'\_\.2$#3%!+F#%F*%# 7##%!>NO+5
2)##%ˆ2bk'.(e+"#k(._e.O#%F*%##7#.6s*.2%<?LR#
2)#2b'y.\e6@#'y.ye2$# r#3w!G0#? %2%1?.+5 F
#%C#2h#%!>0 %0?Q#UY % & 102h % 9 2$#3!*#B %/012
3%40 <=!>2=*2%z%:-#!R*2n2$# T #%F*%#3%=!
2%T 2!#0?@#3%T#LR#.%#L& %" F%*6:Z# 7##%>
O!T2$Y!=2)#2%1N
n2$##%F*%# %"A!"#. %"2B%#2!@0Ur#.*T?*F .
2%!"2AY F%*6:Z# 7##%> =O!T2$Y!=2)# =%&#
2)#6@#+T#3Q0?#%!@#.L9UY % %0?Q# & 10U!a#$=O-!2W
+8 %M*$#3%!+F. T LR#N%4* 7##%!>N %"A!"#. %"2B
<=!>2=*2%9 $=Oq# %<?"06 T LR#N%4* %"A!"#%v
!= 7#L[UV##%!G06=+8#!T$~.%*6:Z# 7##%>2%1N
d#%mc& 10%#/0123%40 <=!>2=*N%s#2%z#%F*%#
0g#ch#%2T#2bLW6!>0 <=Oi
"02h#%2T#2%z T %N%s#6B!.2= F2%QLLT#%
+:Z L9+=UB#2$# & 10%#%F= <=!>2=*O-! T #:-
2$@#2%"!-!
d#%]c%XLW!$L %=*##2%z*v2%#
[6]
O %XLW+=UB#/012
3%40
[7]
0g#c:P!O!"2292h#%2T#2bLW6!>0

d#%] %2%1?. %XLW!$L %=*##2%z*v2%# <=!>2
=*O6B!2%1N. %x#2{ & 10%#%F=/0123%40 <=!>2
=*3%T+=UB#0?#%!@#.LO-!2$0#Ad#% <=2%"!-! %XLW
+=UB#/0123%406B! =%*}L9N%V2%08 O*82LWLR#N%4*
%<?"0
n2$##%F*%# %"A!"#.2!#%!=2)##%:#O-!2W +8
%M*%s#6B!2%z2!@0 %04##B!2%:&#tu. & 10/012
3%40 <=!>2=* FL9 %0?Q#UY %2b#%F*%#2%7L& %".
!R*2b(yet'\\]u/0W# E#ypet'\_\u.L=#%# %"A!"#
%v +52!#% %".2)#2bk]e6@#m_e2$# r#2%P!3w0?
#%!@# F2%Q#F!L9UY % %0?Q#2h % 9 #?U!a#$=$12 %M*n
2$#%#2%7L& %"Oq# E#$126-#.O%# %"A!"#.2!#% %"
Oq# %:=N%R!6 T LR#N%4* F%*6:Z# 7##%>O!T2$Y
!=2)# =
d#%lc& 10%#/0123%40N%s#2%z2!@0 %04##B!2%:&#
tu
0g#c:P!O!"2292h#%2T#2%zLW6!>0
$##%F*LR#N%4*2%7%v *-!L& %".2%d & 10/012
3%40 <= %j#2=2MN2$0#O#%F*%#6:&#2%9 2%9 N%4*
t\uO#0?@#6!>0t'u E# T #%F*%#3%T  %!"*2n
2$#2%1N%&##%!G09 %0?Q#UY %2$# T *v2%#3%7#$J
$>2.' F/0%:-#!R*`0= T #)* E#k F/0%:-#
2)##%ˆ.2by.'2$!>0o+"#k.]2$!>0o#)*'\_\
d#%pc%0?Q#UY % & 10/0123%402$##%F*%#2%7OL&
%"
0g#c
$##%F*LR#N%4*+5`0= %"A!"#.2d#%2$B#2:&#29
D#U!a#$=+W!O-! & 10%#/0123%40 <=!>2=*n2$#
<= T #%F*%# 7##%!>NN%s#6B!2%z#0?@#6!>0 %<?"0
tmu.*T?*F .N%:&#2!>#OM#2R!t]u*v Ur =#%:#

FU10%!>0!R*UI#+T#3Q2$#!=!+B##?%F*%# %"
A!"#3%T tlu+52)#].yef#)*2$#!=!+B#'\\]^'\__
d#%_\c%0?Q#UY % & 10%#/0123%402$##%F*%# %"
A!"#
0g#c
"0/z*/K2 %X2!@0‰
€l•
 %2b##%F**v2%#2%z
2%d+5 F(2$#p#%F**v2%#/0123%40 <=!>2=* F
6Z!2%"LLT#%.2$#+F F6:&#2%9 2%9 N%4*t\u.%#
%"A!"#N%s#6B! %<?"02%z#0?@#6!>0tmu6 F6Z!2%"L
LT#%$12 =v Ur6Z!2%"LLT#% <=6:&#2%9 2%9 N%4*
t\u F/0%:-#!R*UI#`0= T #)* E#‰ <=%# %"
A!"#N%s#6B! %<?"02%z#0?@#6!>0tmu#%:6LR#/012
!1?.U=!?.`0I#T.*D.7UrŠ2%d2)#UI#.+F6 T *v2%#
3%7#+E!%{!#%!G0OG2$d#%+83‹2%0M2#%:#+z*6B!#%!G0O!>
6*O-!6:&#2%1N%F*%#+g0W#O2%0W 6Tt_u.UI0
*Œ. %12AKOLTN+8#2%9 OM2tkuO%F= %12O T LR#
N%4* F6!@#`0=#t(u F6Z!2%"LLT#%#? #2)#UI#
F+"#'#%F*%#2$#LW T *v2%# %"A!"#%=?+52!#% %"
6 F6Z!2%"LLT#%2:&#+W!2%1N.+F6*T?*F .N%:&#2!>#
OM#2R!ON%V2r#t]u F‰6\.kO%# %"A!"#3%T
tlu+B2‰6\.l
SR#'c>LW‰ % T #%F*%#/0123%40 <=!>2=*2%z
!=!+B#'\\]ƒ'\_\
Nhóm
hàng
2007 2008 2009 2010
Trung
bình

\ (._ k.m k.\ y.m k.y
_ _.y '.( '.k _.l '
' _._ \.p \.l \.m \.p
y \.y \.k \.y \.y \.y
k _.( _.( _.k _.m _.(
( _.' _.y _.l ' _.m
m m._ m (.k ] m._
] \.y \.m \.l \.] \.m
l \.y \.y \.k \.m \.k
p \.p \.l \.p \.( \.l
0g#c:P!O!"2292h#%2T#2bLW6!>0 <=
$#3%!+F.#%F*%##%!@#6!>0tyu#%C##)*
2$:- 3%!!=#%MN+G0 F‰ =#%:#!P+s? %XLW+F %X
E#\.y.+!G0#? %x#2{%#/0123%40 <=2=+5N%V2%08 h2
%&#O#0?@#6!>02!#0?@#2%!@##%!@#
%XLW
€p•
;#%F**v2%#2%7OL& %" =%&#; T
*v2%# %"A!"#%=?+52!#% %".N%R#T#%$‚#2h#%3!#%2" <=
`0?*72$#LR#/012 T *v2%##?Oq# %:=+:Z 3%=!2%T
2$!>2+Q$#+Flpe2%:&#*B! <=*v2%#+g0W#O2%0W
6T62%:&#*B!#8!##%.#%•=6+s?6*v2%#/0123%40O
#%MN3%40I##%:A‚##%=0T *v2%# %"A!"##%:6%F=
%12OLR#N%4*6!@#`0=#.%# %"A!"#N%s#6B!2%z#0?@#
6!>02%d %XLW#?2:&#+W!2%1N.6I#6:Z26k]eO'ke. %X$=
$‚# T #0g#69 2$##%F*%##?Oq# %:=+:Z L[UV#
2$!>2+Q
d#%__c%XLW2)#2$:;##8!##%t'\\]ƒ'\_\u
0g#c:P!O!"2292h#%2T#2bLW6!>0
$#!=!+B#'\\]^'\_\.2%:&#*B!#8!##% %!"*

+"#p_e <=#%F*%#+g0W#O2%0W 6T2$#2%=?+,!3%W!
6:Z#2%:&#*B!!C=%=!2%P!3w.2$#3%!+F#%F*%#6:&#
2%9 .2%9 N%4*O+8#OM2LW#•%F= %12O T LR#N%4* F6!@#
`0=#•*T?*F .N%:&#2!>#OM#2R!ON%V2r#6#%C#*v2
%#3%7# FL92%=?+,!2$#2%:&#*B!62%:&#*B!#8!
##%2$#2%P!3w#?
O-! T #:- +:Z #%!@# x02%d!>2=* F %XLW#?
62%1N#%12.+x#+I06!#=N$zO=6=?L!=.2!"N+"#6%T!
„=#O%!6!NN!#.$0#i0W O‹ r#+x#;OY2$h2%xA=
d#%_'c%XLW#8!##%t'\_\u
0g#c:P!O!"2292h#%2T#2bLW6!>0
%:OM?.2= F2%Q2%1?2h#%3!#%2" <=`0?*7O T #0g#
69 Oq# %:=+:Z L[UV#2$!>2+Q=?#F! T %3%T .%I0%"2 T
*v2%# %"A!"#. %"2B/0123%40+G0N%V2%08 6-#O#0?@#
N%V6!>0.6!#%3!>#O*T?*F #%MN3%409N%V2%08 O#0?@#
6!>0#%MN3%40 %LR#/012/0123%40+5O+=#6*822%9 2";
!>2=*
* * *
b T N%s#2h %2$@#. F2%Q#%M#2%1?.L=03%!!=#%MN
.%B2+8#/0123%40 <=!>2=*+5 F#%C# %0?Q#A!"#
2h % 9 0?#%!@#.%B2+8#/0123%40 <=!>2=* D#UaAY
2T +8#A;! T ?"02WA@##!%&#T +8#2h % 9  <=O!>
!=#%MN+5AY2$!>22!@0#%!G0A;!2T +8#2!@0 9  <= 08
3%<#%R#3!#%2"2%"!-!#@#3%7#N%T2%0?+:Z 2T +8#
*B#%#%:*#+Z!
T  %X2!@0+Y#%6:Z# %2%1?%B2+8#/0123%40 <=
!>2=*Oq# %<?"0+!2%z*7%d#%2)#2$:;#2%z %!G0$8#
T  %X2!@0OG %126:Z# <=%B2+8#/0123%40t#%:*x +8+=
UB#%F= <= & 10*v2%#O2%Y2$:P#.6Z!2%"LLT#%%=? %X
LW2%:&#*B!#8!##%u+G0;*x 2%1NO %:= FL9 R!2%!>#

s?L|6A!2T#+W!O-!#:- 2=3%!2%9 %!>#2T! & 103!#%2"
2$#AW! R#%%M03%<#%R#
Tài liệu tham khảo
Tiếng Việt
_ #)#%s0.'\\p.%:&#*B!!>2=*%M0.S
„=+8#ƒ5%8!
' B#%r#.'\__.%s#2h %2d#%%d#%/012#%MN3%40 <=
!>2=*2b3%!!=#%MN.!#%2"OU9AT.LW].2%T#
'f'\__.2$=#_p.'\.'_
y 0?a#C0%R!.'\\].%0?Q#UY % & 10%#/0123%40
<=!>2=*.%/012AR#2%W#3@.8!
k !>##%!@# x02%:&#*B!.ST T2,#3"2_\#)*2%9
%!># %!"#6:Z /012#%MN3%40O/s?U9# %!"#6:Z N%T2
2$!Q#/012#%MN3%40_\#)*2-!
Tiếng Anh
_ !=!3! .Ž%#!6Az$2.'\\p.$=UzL2=2!L2! L!#N6! ?*=3!#.
† #*! =#UL !=6 **!LL!#•$L!==#U2%z= !•! 
T# s#2%:&#*B! %04#%F=t#$*=6!‘zU2$=UzA=6=# zuc
%X2!@0#? %X$= T# s#2%:&#*B!2%s*%V2%=?2%v#U:T#
s#2%:&#*B! s#A‚#3%! %XLW#?A‚#\
%XLWN%V2%08 2%:&#*B!t2$=UzUzNz#Uz# z!#Uz/u%X2!@0
#?+Q+T#%!T2I*`0=#2$# <=2%:&#*B!2$#2,#2%Q#G#
3!#%2"%=? %X$=+8*; <=#G#3!#%2"+F
%XLW/0%:-#/0123%40tz/N$2N$Nz#L!2?!#Uz/u%XLW#?+
6:P#*x +8N%V2%08  <=#:P!LR#/0122$##:- 2$@#2%Y
2$:P##:- #!F2:&#29#%: %XLWN%V2%08 2%:&#*B!
#%:# F2%Q+:=$=#%C#6}!R! V2%QOGL9R#%%:;# <=*82
LW2%=?+,!2%Y2$:P##:- #!+W!O-!/0123%40*82#:-
%XLW!$L %*=##2%z3%0O9 t‰z!#=6!$L %*=##uc
G*v22T#% +s?62$0#Ad#%+!G0%E= <=Ad#%N%:&#2%Y

N%I# <=2b#2%Y2$:P#/0123%40-! 7#2%x 2$@#. T 2%Y
2$:P#L|+:Z +!G0 %X#%2%z2%YN%I#2:&#29%X2!@0#?3%H
N%V +:Z 2d#%2$B#%#!>2=* F/012%!>#2B!*82LW2%Y
2$:P##%:#O-!3!*#B %3%7#+T#3Q#%:#Oq#+:Z 2h#%
2$# %XLW2%Y2$:P#/0123%40
%XLW2%:&#*B!#q0#%!@#t$=Uzz#2$N?uc
%XLW#?6*82 7# V3%T +Q+6:P#L92MN2$0#%v N%s#
2T# <=2%Y2$:P#/0123%40OG*v2+Y=6}%XLW#? =%*}L9
+=UB#2$#2%Y2$:P#/0123%40
%XLW!$L %=*##2%z*v2%#tz 2$=6!$L %=*##uc
G*v22T#% +s?62$0#Ad#%+!G0%E= <=Ad#%N%:&#2%Y
N%I# <=2b#*v2%#/0123%40-! 7#2%x 2$@#. T *v2
%#L|+:Z +!G0 %X#%2%z2%YN%I#2:&#29%X2!@0#?3%H
N%V +:Z 2d#%2$B#%#!>2=* F/012%!>#2B!*82LW2%Y
2$:P##%:#O-!3!*#B %3%7#+T#3Q#%:#Oq#+:Z 2h#%
2$# %XLW*v2%#/0123%40%XLW#?2%1N%*}L9+=UB#
2$# & 10%#%F=/0123%40
%XLW+=UB#/0123%40tz/N$2U!Oz$L!•! =2!#uc
%X2!@0#?6 7# V3%T +Q+6:P#L92MN2$0#O*82LW
#%F* T *v2%# <=*823%0O9 /0123%40F#F! %2=A!"2
*x +8N%s#2T#%#/0123%40 <=*823%0O9 %v `0W !=
2%7#`0= T %B2+8#3!#%2"%T O-! %XLW!$L %*=##2%z
*v2%#. %XLW#? %04#%F=L9+=UB#2$# & 10/0123%40
A‚# T %LLT#%O-!2$0#Ad#% <=2%"!-!%XLW#?2b\+"#_.
%XLW#? =%*}L9N%V2%08 #%!G0O*82LWh2 T *v2%#
„Z!2%"LLT#%A!Q0%!>#t‰zOz=6zU *N=$=2!Oz=UO=#2=zu%X
2!@0#?Ur#+Q+6:P#*x +86Z!2%"LLT#% <=LR#N%4*#?
O-!LR#N%4*3%T O <=#:- #?O-!#:- 3%T >LW‰ %X$=
3%R#)# B#%2$=#%/0123%40 <=*82`0W !=OG*82LR#N%4*
2$#*W!2:&#`0=#O-!*x /0123%402%"!-! <=LR#N%4*+F

%X  LW  2%:&#  *B!  #8!  ##%  2%z  *v2  %#  tLz 2$=6  !#2$=^
!#U0L2$?2$=Uzu%XLW#?6*82N%:&#N%TN+Q %X$=*x +8
2%:&#*B! <=*82*v2%# V2%Q6A=#%!@02%:&#*B!#8!
##%tU9=2$@#2h#%3!#%2" <=`0?*7%v  & 102%Y2$:P#u
%:&#*B!#8!##%#%•=6/0123%40O#%MN3%40 r#*82
*v2%#%XLW#? =%*}#0g#W  <=6Z!h %2%:&#*B!
`0W 2"+5+:Z 3%=!2%T 2W2%XLW#?2b\+"#_.#"0I#\2%d
2%:&#*B! <=*82*v2%#L|62%:&#*B!6!@###%.#"0
I#_2%d62%:&#*B!#8!##%

×