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WTO suggests ways to raise Viet Nam’s position in global trade

WTO suggests ways to raise Viet Nam’s position in global trade

Thursday 27, 08 2020
HA NOI – Viet Nam should be more active in proposing specific areas with which the World Trade Organisation (WTO) can support the country, WTO Director General Roberto Azevedo said during his visit to Viet Nam, the first ever trip made by a WTO chief

HA NOI – Viet Nam should be more active in proposing specific areas with which the World Trade Organisation (WTO) can support the country, WTO Director General Roberto Azevedo said during his visit to Viet Nam, the first ever trip made by a WTO chief to the Southeast Asian nation.


At his meeting with Minister of Industry and Trade Tran Tuan Anh last week, Roberto Azevedo explained that the WTO will expand its assistance to underdeveloped countries in the fields of services and e-commerce.

This special aid will be given to small and and super small enterprises in order to help them participate in the global supply chain, he added.

Hailing Viet Nam’s impressive socio-economic development after the country joined the WTO nine years ago, Roberto Azevedo said the country has created a more attractive and favourable business climate, developed a network of free trade agreements and engaged in an array of regional deals like the Trans-Pacific Partnership (TPP) agreement.

He, however, underlined the need for the WTO and Viet Nam to engage in more dialogues on Viet Nam’s future plans and how the organisation can assist the country to fulfill such schemes in order to increase the nation’s role and position within global trade.

Viet Nam can also help the organisation develop rules for negotiations and areas of negotiations that may benefit the country in the future, said.

The guest noted that Viet Nam’s ratification of the WTO’s Trade Facilitation Agreement last December has helped cut business costs for local enterprises and facilitated the operation of domestic small and medium-sized enterprises (SMEs).

According to the WTO leader, the orgnisation is seeking to promote negotiations on the remaining Doha issues relating to e-commerce, SMEs and investment facilitation.

He suggested Viet Nam consider raising these matters at the WTO to promote its plans for growth and development.

For his part, Anh called for more support from the WTO and its member countries to help Viet Nam fulfill its commitments to the organisation since the country, as a developing nation, has met a range of difficulties in this work.

The minister also proposed the WTO scrutinise trade protection trends, including unhealthy ones that have caused losses for developing nations. -- VNS

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Financial News

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