Vietnam disappointed at US decision not to recognize its market economy status
VOV.VN - Vietnam has expressed its disappointment after the US Department of Commerce released its conclusions not recognizing the country as a market economy.
“We were disappointed that the US Department of Commerce have continued to identify Vietnam as a non-market economy,” said Pham Thu Hang, spokesperson for the Ministry of Foreign Affairs of Vietnam on August 3.
“Despite recognizing many positive changes in the Vietnamese economy in recent times, this decision did not fully reflect the country’s great efforts and achievements in building and developing a market economy as recognized by the international community,” said Hang.
According to the spokesperson, relevant Vietnamese agencies and businesses have actively coordinated with the US Department of Commerce to provide convincing arguments affirming that the Vietnamese economy has fully met the six market economy criteria prescribed by US law.
Indeed, 72 countries and territories worldwide have recognized Vietnam as a market economy. Many US organisations, individuals and business associations have voiced their support for the US to recognize Vietnam’s market economy status.
International organizations have acknowledged Vietnam’s remarkable progress in economic development. The Southeast Asian nation has so far also engaged in many high-quality Free Trade Agreements (FTAs).
Upholding the spirit of the Vietnam – US comprehensive strategic partnership, the spokesperson requested that the US continue to implement its commitment to broad, strong, constructive coordination to soon recognize Vietnam’s market economy status.
She affirmed that relevant Vietnamese agencies would continue to coordinate closely with US partners to ensure that bilateral economic and trade relations continue to develop stably and harmoniously, thereby bringing practical benefits to businesses and people of the two countries.
