Vietnam nearly a fully open economy: WTO chief

11:56 AM @ Monday - 07 June, 2010
Vietnam is continuing to open up its economy, said World TradeOrganisation Director General Pascal Lamy on June 7 during his talkswith Prime Minister Nguyen Tan Dung.

The talks were held on thesidelines of the ongoing World Economic Forum on East Asia in Ho ChiMinh City .

Pascal Lamy said that in 2009, Vietnam respondedto the global financial crisis and economic downturn much better thanother countries in the region as it maintained a better than averagegrowth rate.

He praised the achievements that Vietnam hasmade in the three years since it has been a member of the WTO,especially its positive economic restructuring to improve itscompetitiveness and the level of the country’s foreign direct investmentand exports.

He confirmed that the WTO is willing to supportVietnam in this process during the different phases towardsintegrating into the global economy. It will also provide a consultancyand take in Vietnamese internees to work for the organisation.

PMDung thanked Director General Lamy for his support during Vietnam ’snegotiations to join the WTO. He said that over the last three years,Vietnam ’s strict compliance to its WTO commitments have helped it tointegrate and contribute to international trade as a member of theglobal trade body.

Vietnam and ASEAN members want the Doharound of trade talks to conclude soon with a balanced and practicaloutcome that takes into consideration under-developed and developingcountries, he said.

The WTO chief agreed with PM Dung’s idea ofan early conclusion to the Doha round of talks, stressing that ifsuccessful, it will stimulate the global economy and add an impetus tothe global financial restructuring process.

He said he hoped thatVietnam , as ASEAN chair and a participant at the forthcoming G20summit in Canada , will have an important voice, which will help tospeed up the Doha talks.

Later the same day, PM Dung receivedseveral executives from a number of leading world industrial andfinancial groups including Dubai Holdings, Deutsche Post DHL andManpower.

Vietnam is fast on its way to becoming a modern,industrial country, deeply integrated into the world’s economy, he said,adding that the country encourages international investors and groupsto invest and expand their businesses in Vietnam.

Many businessexecutives were impressed at Vietnam ’s development and potential,saying that this is the main market that they want to invest and expandtheir operations in the future./.

(Source: http://en.vietnamplus.vn)
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