Leading economists from the World Bank (WB) and the post-WTO Technical Cooperation Program and agencies are gathering in Hanoi to share experience and provide expertise on how to tackle issues arising in the post-WTO period in Vietnam.
During the two-day symposium ed July 3, delegates delivered many reports on various issues Vietnam have to deal with in the post-WTO period such as the non-market economy, industrial and agricultural policies, institutional reform, financial and investment services, technical barriers, intellectual property protection, social impact from WTO admission and communications.
Adam McCarty from Mekong Economics &ndash a leading economic consulting company in the Greater Mekong Sub-region, said that Vietnam has coped with numerous issues, particularly anti-dumping lawsuits after officially joining the WTO in January 2007.
The government of Vietnam should be consistent in economic management, particularly in raising the awareness of businesses, and have lobbying for international economic activities, he suggested.
Luong Van Tu, president of the Vietnam Cocoa and Coffee Association, pointed out the fact that many countries want to make use of anti-dumping lawsuits with the aim of safeguarding the domestic market while cornering the global market.
Dr Tran Dinh Thien from the Vietnam Economics Institute complained that Vietnam&rsquos market economy institutions remain incomplete and inconsistent even though the country has carried out the Doi Moi (Renewal) process for more than 20 years.
&ldquoVietnam needs to have a genuine market economy without too much relying on anti-dumping programs,&rdquo said Thien.
According to experts, Vietnam&rsquos weak enforcement mechanism for the protection of intellectual property rights (IPR) has hindered the development of hi-tech industries, an area in which Vietnam has huge potential.
Law consultant Thomas Treutler proposed that Vietnam should apply strong fines for IPR violations and establish a specialized intellectual property court.
The symposium was co-held by the Ministry of Industry and Trade (MoIT), the WB, the Australian Agency for International Development (AusAID) and the UK&rsquos Department for International Development (DFID).
According to a recent survey on impacts of WTO entry in Vietnam conducted by the Multilateral Trade Assistance Project Vietnam II (MUTRAP II), Vietnam has reaped many benefits from its admission to the global trade club over a year earlier.
Up to 84 per cent of firms thought the relationship between the government and private businesses has been improved since the country entered the WTO.
Administrative and customs procedures have been also improved, said the survey, adding that over 70 per cent of businesses were happy with improvements in registration and licensing procedures. They, however, still complained that construction licenses and land lease procedures were complex and costly.
The positive changes have helped the Asean country obtain a sharp rise in FDI last year to US$23 billion from US$10 billion in 2006.
However, the country is facing an increasing trade deficit due to sharp rises in imports, mainly machinery and equipment and consumer goods.
Additionally, links between local and foreign enterprises were not developing while support industries continued to struggle. (VNS, VOV, Youth)
Vietnamese
