Viet Nam attaches importance to its role as a member of the World Trade Organisation (WTO), stated Prime Minister Nguyen Xuan Phucat his reception for WTO Director-General Roberto Azevêdo in Ha Noi April 15.

Prime Minister Nguyen Xuan Phuc (right) welcomes WTO Director-General Roberto Azevêdo

Welcoming the WTO leader’s visit to Viet Nam, PM Phuc stressed that this was a good chance for the WTO leader and Vietnamese officials to discuss increasing co-operation between the two sides.

Confirming Viet Nam’s policy of extensive international integration, he said that Viet Nam had negotiated and signed several bilateral and regional free trade agreements and actively participated in WTO activities.

He informed the guest of the country’s ratification of a Trade Facilitation Agreement (TFA) as well as its preparations to ratify a protocol amending the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in October.

The Government leader expressed his hope that the WTO would continue supporting Viet Nam, particularly in the training of skilled human resources and legal experts, and in improving the capacity of Vietnamese businesses in international trade activities.

The WTO Director-General said that Viet Nam had great potential for further development as an active member of the WTO.

The Vietnamese economy was growing with an increasing level of quality through the rise of hi-tech industries, he said.

He suggested Viet Nam contribute to building the WTO’s future working agenda as a way to heighten its role and position in the organisation.

The guest called for a step up in cooperation with Viet Nam, particularly in capacity building and training for personnel working for international integration.

He welcomed Viet Nam’s preparations for ratifying TRIPS, saying this important document was tailored to help less-developed countries access pharmaceuticals for medical treatment.

The WTO Director-General affirmed that the WTO was willing to support Viet Nam in its integration into the global multilateral trade system, as well as during its socio-economic development process.

Vietnam benefits

Viet Nam had made good use of opportunities brought about by the country’s membership of the World Trade Organisation (WTO),  saidAzevêdo later at a dialogue with Vietnamese businesses yesterday.

The WTO Director-General said Viet Nam was among the members having benefited the most from the WTO, earning around US$3.6 billion as a result of WTO assistance.

He underlined the remarkable changes in Viet Nam both before and after it joined the WTO, citing noteworthy trade liberalisation, lower taxes and positive reforms in the service sector. The enforcement and protection of intellectual property had also been improved clearly, he said, adding that the Vietnamese Government had taken steps to modernize the economy and create a more attractive and favourable business environment.

With all those moves, Viet Nam enhanced its prestige among the international business community, which it would not have achieved without joining the WTO, Azevêdo said. He added that WTO membership also helped Viet Nam avoid trade protection measures and non-trade barriers that are on the rise.

Sharing this view, Deputy Minister of Industry and Trade, Tran Quoc Khanh, reported that Viet Nam’s foreign trade value had risen threefold since its WTO accession, while substantial changes had been seen in the country’s institutional environment.

Chairman of the Vietnam Chamber of Commerce and Industry, Vu Tien Loc, affirmed that accession to the WTO forced Viet Nam to follow world standards.

According to the WTO Director General, Viet Nam is on the right track in the process of international integration and trade liberalisation. He appreciated Viet Nam’s efforts in joining regional and bilateral free trade agreements alongside the multilateral trade institution of the WTO.

Multilateral and bilateral mechanisms would supplement each other and assist with Viet Nam’s integration process, he said, adding that there is no other choice for Viêt Nam than to strive to meet world trade standards.

VNS