Viet Nam requests U.S. to soon recognize market economy status of Viet Nam

Spokesperson of the Ministry of Foreign Affairs of Viet Nam Pham Thu Hang made the above statement in reply to a reporter's inquiry about Viet Nam's reaction to the U.S. Department of Commerce (DOC) classifying Viet Nam as a non-market economy.

"We are disappointed that the DOC continues to classify Viet Nam as a non-market economy. Although recognizing many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Viet Nam's huge efforts and achievements in building and developing a market economy that has been recognized by the international community", she noted.

In recent times, Vietnamese agencies and businesses have actively coordinated with the DOC to provide many convincing arguments affirming that Viet Nam's economy has fully met the six criteria to recognize market economy status in line with the U.S. regulations. This is also supported by many U.S. and international associations, businesses, and experts, she added. 

In fact, to date, 72 countries have recognized Viet Nam as a market economy. International organizations hail the remarkable progress of Viet Nam's economy. At the same time, Viet Nam has engaged in many high-quality Free Trade Agreements (FTAs), told the diplomat.

Relevant Vietnamese agencies will continue to coordinate closely with U.S. partners to ensure that bilateral economic and trade relations continue to develop stably and harmoniously, bringing practical benefits to both nations' businesses and peoples, Pham said./.