US requested to continue commitment and soon recognise Việt Nam’s market economy status

Spokeswoman of the Ministry of Foreign Affairs Phạm Thu Hằng. — VNA/VNS Photo

HÀ NỘI — Việt Nam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Việt Nam, Spokeswoman of the Ministry of Foreign Affairs Phạm Thu Hằng has said.

Hằng made the statement on August 3 while answering a reporter’s question about Việt Nam’s reaction to the US Department of Commerce (DOC)’s decision on continuing to identify Việt Nam as a non-market economy.

“We are disappointed that the US Department of Commerce continues to identify Việt Nam as a non-market economy. Although recognising many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Việt Nam’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 Việt Nam’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 Việt Nam as having a market economy. International organisations have recognised the remarkable progress of the Vietnamese economy. At the same time, Việt Nam has participated in many high-quality Free Trade Agreements (FTAs).

“In the spirit of comprehensive strategic partnership, Việt Nam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Việt Nam. 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,” Hằng added. — VNS