Minister of Trade and Industry Vu Huy Hoang has affirmed Vietnam’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 Organisation Ministerial Conference in Geneva on Dec. 16, Minister Hoang said, as a developing country that joined the WTO when the global economy is facing difficulties, Vietnam has done its utmost to implement its WTO commitments.
Vietnam 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. Vietnam 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 Hoang 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 Vietnam 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.