AMM Recognizes Vietnam's Full Market Economy

The 40th ASEAN Ministerial Meeting (AMM-40) July 30 released a 91-point joint communiqué, including recognition of Vietnam’s full market economy in terms of economic achievements and regional and international integration, Tien Phong (Pioneer) newspaper reported Wednesday.

 

Deputy Foreign Minister Le Cong Phung, head of Vietnam’s foreign delegation called for more effective cooperation within the ASEAN bloc to form a common community and narrowing the development gap among regional nations in the coming time.

 

Foreign ministers of AMM-40 called for tighter cooperation among the countries to set up a common community in 2015 and narrowing the development gap among the bloc’s countries.

 

The diplomats also discussed security issues with neighbors China, South Korea and Japan, endorsing North Korea’s commitment to close its nuclear weapons program and urging the Taliban to release South Korean hostage.

 

ASEAN agreed Monday to set up a regional human rights commission despite fierce resistance from Myanmar, whose rights record has been a constant problem for the regional group.

 

ASEAN consists of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

 

Vietnam now becomes the 150th WTO member and it will take 12 years in the transitional phase to be recognized a full market economy. (Pioneer, AP)