Vietnam receives full market status
VNBusinessNews – Australia and New Zealand have officially recognised Viet Nam as a full market economy and agreed to treat Vietnamese imports in accordance with WTO regulations on anti-dumping and subsidies.
The documents were signed in Phetchaburi province, Thailand, and handed over by Australia Minister for Trade Simon Crean and New Zealand Trade Minister Tim Groser to Minister of Industry and Trade Vu Huy Hoang, on the sidelines of the Association of Southeast Asian Nations 14th Summit.
“Their commitments are of primary importance regarding goods inspections and the determination of dumping taxes, which will act as a basis for making decisions on anti-dumping tariff rates,” Hoang said.
“Their recognition, along with a recently signed treaty regarding an ASEAN-Australia and New Zealand Free Trade Area, have marked a huge leap in multi-faceted relations between Viet Nam and these two ASEAN dialogue partners, contributing to maintaining steady economic growth in the Asia-Pacific region.”
ASEAN economic ministers issued a statement welcoming the decision and encouraged other ASEAN dialogue partners to recognise Vietnam as a full market economy.
So far 18 countries have officially recognised Viet Nam as a full market economy.
On the same day, New Zealand signed an agreement to receive a number of Vietnamese guest workers. Under the terms of the agreement, New Zealand will receive around 100 Vietnamese workers under the New Zealand Working Holiday Programme, 100 chefs and an additional 100 workers with proficiency in more than 40 different trades.
The two ministers pledged to act on the agreement as soon as possible to serve the interests of businesses from the two countries, which would particularly benefit Vietnamese workers amid the global economic crisis.
Meanwhile, a Vietnamese economic delegation, led by Minister Hoang, attended a meeting with senior trade officials from Thailand to discuss measures to stabilise the rice market, exchange views on market management and mull measures to promote Viet Nam’s exports so as to reduce its trade deficit. (VNS)
