"I Admire Vietnam's Bilateral Commitments," says EU's Peter Mandelson

3:26:38 PM | 7/8/2005

“I Admire Vietnam’s Bilateral Commitments,” says EU’s Peter Mandelson

EU Trade Commissioner Peter Mandelson arrived in Vietnam on April 26 and 27 to attend the EU-ASEAN Ministerial Consultation Meeting in Ha Long City. On this occasion, he had a talk with both local and international news agencies about Vietnam’s WTO entry and the bilateral Market Access to be signed in October.

It is said that Vietnam faces hardships entering the WTO at the end of this year. What do you think of this and of the difficulties Vietnam may face?

In my opinion, Vietnam’s entry to WTO by this year’s end is completely feasible. However, to reach this target, Vietnam still must face numerous difficulties including bilateral and multilateral negotiations with major trading partners. Vietnam will have to work very hard to complete its laws to go in line with those of the WTO. At the same time, Vietnam also has to fully prepare for its WTO membership to be able to compete with other trading partners.

What do you think of Vietnam’s bids in bilateral commitments?

I very much admire Vietnam’s efforts toward their bilateral commitments. All ASEAN economic ministers I have met were highly interested in and appreciated Vietnam Shipbuilding Industry Corporation’s (Vinashin) bid to enter the WTO. WTO membership will benefit not only Vietnam but also others in the international commercial community. If Vietnam enters the WTO, it can contribute to the success of Doha negotiation round.

Can you tell us about some of Vietnam’s negotiating experience ?

Every talk has its own disputes. I believe that Vietnam will know what to do. I think that Vietnam and EU agreement signed last year was great experience for Vietnam. I can rely on this agreement to smoothen other negotiations.

Vietnam has experienced several trade conflicts in recent times and this is the reason for the EU handling of its market economy mechanism. What do you think about this?

This is a technical matter. All its dumping cases are only related to applied tax rates. Vietnam has to make adjustments to its law system and institutions to be recognised as a market economy. Vietnam is now involved in four dumping cases of small value and I don’t think this should pose any major problems.