US requested to continue commitment and soon recognise Vietnam's market economy status
Vietnam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Vietnam, Spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang has said.
Spokeswoman of the Vietnamese Ministry of Foreign Affairs Pham Thu Hang (Photo: VNA)
Hanoi (VNA)🎃 - Vietnam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Vietnam, Spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang has said.
Hang made the statement on August 3 while answering a reporter's question about Vietnam's reaction to the US Department of Commerce (DOC)'s decision on continuing to identify Vietnam as a non-market economy.
"We are disappointed that the US Department of Commerce continues to identify Vietnam as a non-market economy. Although recognising many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Vietnam's great efforts and achievements in building and developing a market economy, which have been recognised by the international community," she said.
🎃According to the spokeswoman, in recent times, Vietnamese agencies and businesses have actively coordinated with the US Department of Commerce to provide many convincing arguments affirming that Vietnam's economy has fully met six market economy criteria in line with the US law. This has also been supported by many US and international associations, businesses, and experts. In fact, to date, 72 countries have recognised Vietnam as having a market economy. International organisations have recognised the remarkable progress of the Vietnamese economy. At the same time, Vietnam has participated in many high-quality Free Trade Agreements (FTAs).
"In the spirit of comprehensive strategic partnership, Vietnam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Vietnam. Relevant Vietnamese agencies will continue to coordinate closely with US partners to ensure that bilateral economic and trade relations will continue to develop stably and harmoniously, bringing practical benefits to businesses and people of the two countries," Hang added./.
The Ministry of Industry and Trade (MoIT) has expressed its regret that the US Department of Commerce (DOC) on August 2 issued a determination according to which although many positive changes have been recorded in Vietnam's economy in recent years, Vietnam continues to be classified as a non-market economy.
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