US requested to continue commitment and soon recognize Vietnam’s market economy status

Hang made the statement on Saturday while answering a reporter’s question about Vietnam’s reaction to the U.S. Department of Commerce (DOC)’s decision to continue to identify Vietnam as a non-market economy.

“We are disappointed that the U.S. Department of Commerce continues to identify Vietnam as a non-market economy. Although recognizing many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Vietnam’s great efforts and achievements in building and developing a market economy, which have been recognized by the international community,” she said.

“In the spirit of comprehensive strategic partnership, Vietnam requests the U.S. to continue implementing its commitment to broad, strong and constructive coordination and to soon recognize the market economy status of Vietnam. Relevant Vietnamese agencies will continue to coordinate closely with U.S. 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,” she added.

According to the spokeswoman, in recent times, Vietnamese agencies and businesses have actively coordinated with the U.S. Department of Commerce to provide many convincing arguments affirming that Vietnam’s economy has fully met six market economy criteria in line with the U.S. law. This has also been supported by many U.S. and international associations, businesses, and experts. In fact, to date, 72 countries have recognized Vietnam as having a market economy. International organizations have recognized the progress of the Vietnamese economy. At the same time, Vietnam has participated in many high-quality Free Trade Agreements (FTAs).