Oman recognises Viet Nam's market economy

Friday, Apr 04, 2014 10:54

HA NOI (Biz Hub) — Viet Nam has, to date, received recognition of its market economy from 45 countries across the world, with Oman being the latest, according to the Ministry of Industry and Trade.

This reflects the international community's acknowledgement of Viet Nam's efforts to reform its economy and foster international economic integration, and encourages other countries to make a similar assessment of Viet Nam's economy.

In the times ahead, the Vietnamese government will continue providing explanations of its market economy to several partners, including the United States, the European Union, Canada and Mexico.

Under the commitments to the World Trade Organisation, Viet Nam agreed to have its economy considered a non-market economy in anti-dumping cases. However, partners who recognise Viet Nam's market economy status will stop applying the "non-market" status to Viet Nam. — VNS

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