VN affirms commitment to multilateral trading system
VGP - Minister of Trade and Industry Vũ Huy Hoàng has affirmed Việt Nam’s determination and commitment to the multilateral trading system, saying it is one of the focal points in the country’s policy for international economic integration.
In his speech at the plenary session of the eighth World Trade Organization Ministerial Conference in Geneva on December 16, Minister Hoàng said, as a developing country that joined the WTO when the global economy is facing difficulties, Việt Nam has done its utmost to implement its WTO commitments.
Việt Nam is disappointed at the deadlocked Doha Round of trade negotiations which has degraded people’s trust in the multilateral trading system, said the minister.
It is imperative to reinforce trust in the multilateral trading system with strict and transparent rules and regulations that serves as the most effective mechanism against protectionism and for dealing with global trade issues, he stressed.
Although the Doha Round of trade negotiations failed to meet the desire, it proved the importance of the development issue. Việt Nam hopes that WTO ministers will turn their political will and determination into specific instructions for the negotiations to achieve expected results, the minister said.
Minister Hoàng hailed the WTO committees’ reports and efforts of committees and working groups in fulfilling tasks of the multilateral trading system.
This is the second time Việt Nam has attended the WTO Ministerial Conference as a full WTO member.
During the conference, the Vietnamese delegation met with the Swiss State Secretary for Economy, Marie-Gabrielle Ineichen-Fleisch, the Head of the Ukrainian government delegation, Valeryi Pyatnytskiy and the Canadian International Trade Minister, Ed Fast. They also held working sessions with representatives from ASEAN nations./.