US requested to continue commitment and soon recognise Viet Nam's market economy status

Hang made the statement on August 3 while answering a reporter's question about Viet Nam's reaction to the US Department of Commerce (DOC)'s decision on continuing to identify Viet Nam as a non-market economy.

"We are disappointed that the US Department of Commerce continues to identify Viet Nam as a non-market economy. Although recognising many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Viet Nam's great efforts and achievements in building and developing a market economy, which have been recognised by the international community," she said.

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

"In the spirit of comprehensive strategic partnership, Viet Nam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Viet Nam. Relevant Vietnamese agencies will continue to coordinate closely with US 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," Hang added.

Source: VNA