Vietnam did not consider its accession to the World Trade Organisation(WTO) as a final destination, but simply a step in the whole process ofeconomic reform towards facilitating trade and investment.
Tran Quoc Khanh, deputy minister of Industry and Trade, made thestatement at a workshop to discuss the WTO's first trade policy reviewof Vietnam held in Hanoi on November 28.
"Vietnamhas never got back to protectionism and always been determined to pursuetrade liberalism and facilitation which has been shown by theinitiatives it has taken and active participation in negotiations forfree trade agreements (FTA), even at a time of economic difficulty,"Khanh said.
He said the country had beenimplementing related commitments to an open market and transparency, andimproved its legal framework while creating a fair and favourablebusiness environment which facilitated local and foreign investment.
However, he said that during the six years Vietnam had been a memberof the WTO, a number of shortcomings had been registered, particularlypoor reporting, burdensome administrative procedures, low transparencyand a lack of consistent policy making and application.
Vietnam had straightforwardly admitted these weaknesses and committed to address them in the future, he added.
Sharing the ideas, Franz Jessen, ambassador and head of the EUdelegation, said as a result of its trade liberalisation, Vietnam hadbecome an important economic and political player in ASEAN and Asia, andwas also becoming an increasingly important partner for the EU.
Vietnam's efforts to implement its WTO accession package had also ledto extensive tariff reductions, comprehensive services' reform as wellas improved transparency of Vietnam's trade regime and enhancedprotection and enforcement of intellectual property rights, he said.
The ambassador said Vietnam had faced a number of important challengeson its ways to become a fully industrialised and modern economy.
Appropriate trade policies and structural reforms to further improvethe country's overall efficiency, productivity and competitiveness wereneeded.
Such reforms would also be crucial inensuring that Vietnam remained an attractive destination for foreigninvestment, he added.
Reviewing Vietnam's economyafter its WTO accession, Vo Tri Thanh, deputy head of the CentralInstitute for Economic Management, said the country's competitivecapacity had not improved that much, and even decreased in 2010.However, its attraction of foreign direct investment was stillrelatively high.
Thanh said the WTO accession hadmade people more aware of integration, and several provinces had beenimproving their business and investment environment.
However, he said that one of the shortcomings was the participation ofthe business community. He suggested the country ensure effectivedistribution of resources while reducing risks to the marco-economy,society and the environment.
Nguyen Thi Thu Trang,director of the WTO Centre, said the Vietnam Chamber of Commerce andIndustry had not used the tools provided by the WTO. For example,subsidy solutions had been ineffective. She said Vietnamese businesseslacked the know-how and support to protect themselves from anti-dumpinglawsuits.
She said that Vietnam had not mademanagement activities more transparent or improved business competitionsince its accession to the WTO. The country should push transparency anddevelop market principles, she added.-VNA
Tran Quoc Khanh, deputy minister of Industry and Trade, made thestatement at a workshop to discuss the WTO's first trade policy reviewof Vietnam held in Hanoi on November 28.
"Vietnamhas never got back to protectionism and always been determined to pursuetrade liberalism and facilitation which has been shown by theinitiatives it has taken and active participation in negotiations forfree trade agreements (FTA), even at a time of economic difficulty,"Khanh said.
He said the country had beenimplementing related commitments to an open market and transparency, andimproved its legal framework while creating a fair and favourablebusiness environment which facilitated local and foreign investment.
However, he said that during the six years Vietnam had been a memberof the WTO, a number of shortcomings had been registered, particularlypoor reporting, burdensome administrative procedures, low transparencyand a lack of consistent policy making and application.
Vietnam had straightforwardly admitted these weaknesses and committed to address them in the future, he added.
Sharing the ideas, Franz Jessen, ambassador and head of the EUdelegation, said as a result of its trade liberalisation, Vietnam hadbecome an important economic and political player in ASEAN and Asia, andwas also becoming an increasingly important partner for the EU.
Vietnam's efforts to implement its WTO accession package had also ledto extensive tariff reductions, comprehensive services' reform as wellas improved transparency of Vietnam's trade regime and enhancedprotection and enforcement of intellectual property rights, he said.
The ambassador said Vietnam had faced a number of important challengeson its ways to become a fully industrialised and modern economy.
Appropriate trade policies and structural reforms to further improvethe country's overall efficiency, productivity and competitiveness wereneeded.
Such reforms would also be crucial inensuring that Vietnam remained an attractive destination for foreigninvestment, he added.
Reviewing Vietnam's economyafter its WTO accession, Vo Tri Thanh, deputy head of the CentralInstitute for Economic Management, said the country's competitivecapacity had not improved that much, and even decreased in 2010.However, its attraction of foreign direct investment was stillrelatively high.
Thanh said the WTO accession hadmade people more aware of integration, and several provinces had beenimproving their business and investment environment.
However, he said that one of the shortcomings was the participation ofthe business community. He suggested the country ensure effectivedistribution of resources while reducing risks to the marco-economy,society and the environment.
Nguyen Thi Thu Trang,director of the WTO Centre, said the Vietnam Chamber of Commerce andIndustry had not used the tools provided by the WTO. For example,subsidy solutions had been ineffective. She said Vietnamese businesseslacked the know-how and support to protect themselves from anti-dumpinglawsuits.
She said that Vietnam had not mademanagement activities more transparent or improved business competitionsince its accession to the WTO. The country should push transparency anddevelop market principles, she added.-VNA
