Geneva (VNA) – WTO Director-General Ngozi Okonjo-Iweala has praised Vietnam’s development achievements, noting that both its merchandise exports and imports had increased approximately sixfold since joining the organisation, while its GDP had grown by an average of around 6% annually.
She made the remark while addressing at an event hosted by the Vietnam’s Ministry of Industry and Trade to mark the 20th anniversary of Vietnam’s accession to the World Trade Organisation (WTO), on the sidelines of the country’s third Trade Policy Review (TPR3).
She affirmed that the WTO membership had helped drive reforms, strengthen investor confidence and support Vietnam’s deeper integration into the global economy.
She also recommended that Vietnam continue diversifying its markets and sources of supply, increasing added value, strengthening linkages between domestic and foreign-invested businesses, and actively participating in new WTO initiatives.
Earlier, in his opening remarks, Ambassador Mai Phan Dung, Permanent Representative of Vietnam to the United Nations, the WTO and other international organisations in Geneva, stressed that joining the WTO had been a strategic choice for Vietnam, closely associated with its Doi Moi (Renewal) process, opening-up policy and international economic integration.
Over the past two decades, international economic integration has become a driving force for institutional reforms, trade expansion, foreign investment attraction and enhancement of the country's international standing, he said.
He highlighted a key lesson from Vietnam’s 20-year WTO membership: integration drives reforms, while reforms determine the quality and sustainability of integration.
Looking ahead, Vietnam will continue improving its institutions, enhancing competitiveness, shifting its focus from expanding trade volumes to increasing added value, and proactively contributing to the strengthening of the rules-based multilateral trading system, he added.
At a subsequent dialogue session, Ngo Chung Khanh, Deputy Director of the Ministry of Industry and Trade’s Department of Foreign Market Development and Multilateral Trade, highlighted four major transformations over the past 20 years. These include increasingly transparent and rules-based trade policies; deeper integration into global trade and investment networks; a shift from implementing commitments to proactively participating in integration frameworks such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA); and a gradual shift of focus towards enhancing competitiveness, sustainable development and economic resilience.
Representatives of the Republic of Korea, China, the Philippines and Norway at the WTO, along with international speakers, exchanged views on the role of integration in Vietnam’s economic reforms and development.
Their discussions underscored the need to improve investment quality, promote technology transfer, facilitate trade and strengthen supply chain connectivity.
Meanwhile, representatives of the international business community, including the Swiss-Asian Chamber of Commerce, the World Federation of the Sporting Goods Industry and Switzerland Global Enterprise, spoke highly of Vietnam’s market potential. They also emphasised the importance of a transparent, stable and predictable legal environment, streamlined administrative procedures and effective policy implementation.
The conference highlighted Vietnam’s notable achievements during its two decades of WTO membership and reaffirmed the country’s determination to pursue further reforms, improve the quality of integration and make active and responsible contributions to the multilateral trading system.
The November 5 event also helped strengthen dialogue between Vietnam, international partners and the business community, paving the way for deeper, more effective and sustainable integration in the years ahead./.
