Vietnam expresses regret US yet to recognise its market economy status

If the US department of commerce had objectively and fairly assessed records and practices in Vietnam, it could have known that the latter is already a market economy as recognised by several others, including the United Kingdom, Canada, Mexico, Australia, Japan, India, South Korea and New Zealand, the ministry said.

Changes to the Vietnamese economy in the last 20 years were clarified in more than 20,000 pages of documents that the MoIT sent to the US department. The documents demonstrated Vietnam’s strong progress on all six criteria set by the United States for a market economy status, it said.

The ministry claimed its arguments offered to the US department also demonstrate that Vietnam’s level of implementation of these six criteria is at least equal to and often better than that of other countries recognised as market economies, according to a Vietnamese media outlet.

ALCHEMPro News Desk (DS)