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Posts Tagged ‘WTO’

WTO ready to help Vietnam with global economic integration

In Uncategorized on June 7, 2010 at 2:31 pm




WTO ready to help Vietnam with global economic integration


QĐND – Monday, June 07, 2010, 20:55 (GMT+7)

Three years after its entry to the World Trade Organisation (WTO), Vietnam has made drastic changes in economic development. The country has coped with the global financial economic downturn better than other regional countries.


Prime Minister Nguyen Tan Dung received WTO Director General Pascal Lamy on the sidelines of the World Economic Forum (WEF) on East Asia in HCMCity on June 7.


Mr Dung thanked Director Lamy for supporting Vietnam during the negotiation process for its admission to the world’s biggest trade body and expressed his hope that Mr Lamy would continue to help Vietnam with full involvement in the WTO’s agreements, technical consultancies and human resources development.


Vietnam and ASEAN countries want the Doha round of world trade talks to end soon with practical and balanced results for the benefit of underdeveloped and developing countries. The early termination of the Doha round will be a step forwards for developing free trade in a more equal manner, said Mr Dung.


For his part, Mr Lamy praised the achievements Vietnam has recorded after three years in the WTO, particularly in economic restructuring to raise competitive capacity as a result of sharp increases in foreign investment capital and export turnover.


Vietnam’s success in coping with the global economic downturn demonstrated its efforts to build an open economy. The WTO is willing to help Vietnam to build a roadmap with specific periods for more integration into the global economy, provision of technical assistance and accepting Vietnamese trainees who want to work for the WTO, Mr Lamy said.


Sharing his views with PM Dung at the early ending of the Doha round, the WTO Director said the successful Doha round will have double impact and play a role as the world economy’s stimulus package to accelerate the process of reforming the global financial structure.


He also expressed the hope that as ASEAN Chair this year, Vietnam will have an important voice at the G20 Conference to be held in Canada in the near future, helping the Doha round to end on schedule.


The same day, PM Dung also received some leaders from major international economic groups.


Source: VOV/ Photo: chinhphu.vn


Source: QDND

Experts review Vietnam’s 3-year WTO membership

In Uncategorized on May 25, 2010 at 9:21 am

WTO to consider Vietnam’s complaints on US anti-dumping tariffs

In Uncategorized on May 19, 2010 at 5:06 pm




WTO to consider Vietnam’s complaints on US anti-dumping tariffs


QĐND – Wednesday, May 19, 2010, 22:35 (GMT+7)

World Trade Organization (WTO) judges agreed to investigate whether the U.S anti-dumping tariffs on Vietnamese shrimp cause unfair harm to Vietnam’s exporters, said a WTO spokesperson on May 18.


The WTO Dispute Settlement Body (DSB) has set up a jury to consider Vietnam’s complaint, in which Vietnam affirmed that the punishment of 4.13-25.76 percent tariffs imposed on Vietnam’s shrimp is unfair and seriously harms Vietnamese exporters.


Speaking at a meeting on May 18, Tran Thi Thu Hang, deputy permanent representative of Vietnam’s mission to the UN, WTO and other international organisations, emphasised that Vietnam looks forward to the solution of the dispute at any time and will follow it until the judicial review.


Some other countries attending the meeting expressed their hopes of participating in the dispute as the third party.


DSB also set up a jury to consider China’s complaint against the EU anti-dumping tariffs imposed on China’s shoes.


Source: VOV


Source: QDND

WTO says Doha conclusion key to global recovery

In Uncategorized on May 16, 2010 at 12:58 pm

World Trade Organisation chief Pascal Lamy seen in March 2010 (AFP file)

MANAMA (AFP) – The conclusion of the stalled Doha Round of free trade talks is crucial to the recovery from the global financial crisis, World Trade Organization chief Pascal Lamy said on Sunday.


“The Doha Round, at this moment of the crisis exiting, is a vitally needed and, to be frank, a very low cost global economic stimulus package,” Lamy told participants at an economic forum in Bahrain.


“Estimates suggest that the implementation of this round… would inject to the tune of 300-400 billion dollars a year into the global economy,” he told participants at the Bahrain Global Forum.


The Doha Round of talks launched in 2001 were due to be wrapped up in March, according to a target set by the G20 group of leading and emerging economies, but previous deadlines have been repeatedly missed.


The negotiations have focused on dismantling obstacles to trade for poor nations by striking an accord that would cut agriculture subsidies and tariffs on industrial goods.


Discussions have been dogged by disagreements over issues including how much the United States and the European Union should reduce aid to their farmers and the extent to which developing countries such as India, China and South Africa should lower tariffs.


“When we look at the agricultural subsidies of members such as the EU, the US, Japan or Switzerland that have crowded developing world exports out of international markets, you discover the need for the Doha Round,” Lamy said.


“These subsidies would be slashed by about 80 percent,” if the talks were to reach a conclusion.


The WTO director-general highlighted US resistance to the Doha Round resulting from different congressional interests, saying that Washington was trying to get more concessions.


“The US are seriously attempting to conclude these negotiations on more US terms than what’s already on the table,” he said, adding such a position might “trigger counter requests”.


But he said negotiations were at a stage where political intervention was needed from US President Barack Obama to “take the risk” of sending a bill to Congress.


Last month, members of the Cairns Group of agricultural exporters urged resistance to protectionism and the revival of the Doha Round.


The Cairns Group comprises Argentina, Australia, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Guatemala, Indonesia, Malaysia, New Zealand, Pakistan, Paraguay, Peru, Philippines, South Africa, Thailand and Uruguay.


In his address, Lamy noted however that WTO members have adhered to commitments made through the organisation by not returning to protectionist policies despite the global crisis.


“Trade is as open today as it was at the beginning of the crisis,” he said, adding this showed the WTO members’ “refusal to turn their backs on policies that helped integrate them into the world economy.”


Lamy also said that world trade was recovering after dropping due to the crisis.


“Today, we are seeing a V-shaped recovery of world trade. After a fall of 12 percent terms in 2009, we now forecast a rebound of world trade of about 9.5 percent this year,” he said.

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Source: SGGP

Achievements, challenges for Vietnam after 3 years in WTO

In Uncategorized on April 5, 2010 at 11:22 am

Three years after becoming a member of the World Trade Organization (WTO), Vietnam has gained both direct and indirect achievements in socioeconomic development and administrative reform, but it has also encountered several difficulties in adopting new policies.

Workers package rice for export at Foocosa Company. After joining the WTO in 2007, many Vietnamese industries have benefited greatly (Photo: SGGP)

Successes
 
Since joining the WTO in 2007, Vietnam has attracted more than 4,000 foreign direct investment (FDI) projects worth over US$114 billion, 4.5 times higher than the target set for the 2006-2010 period.
 
The country’s export turnover has also soared sharply. Export and import turnover in 2008 and 2009 reached US$150 billion each year, equal to over 160 percent of the country’s GDP.
 
Vietnamese commodities have been exported widely to 150 countries and territories, with many sectors benefiting from WTO membership including labor-intensive industries like clothing, footwear and electronics.
 
Vietnamese goods are no longer discriminated against and domestic customers now have opportunities to buy a variety of imported goods at cheaper prices.
 
Joining the WTO has also raised people’s awareness of international integration, which has changed Vietnam’s global position and led to an extensive reworking of a number of the Government’s policies.
 
The legal system has been streamlined and undergone many administrative reforms as well.
 
Former Deputy Prime Minister Vu Khoan said that 30 percent of administrative procedures have been reduced under international pressure to simplify processes.
 
Opening the market, removing tax barriers and subsidies, applying principles of non-discrimination, and implementing transparent policies have facilitated the development of local enterprises, and thus business standards have gradually improved.
 
Challenges
 
Since the country’s WTO accession, however, not all enterprises have been informed about the Vietnamese Government’s bilateral and multilateral commitments.
According to the Ministry of Industry and Trade, only 20 percent of businesses have taken full advantage of the country’s WTO membership as related to tariffs and goods origin.
 
Therefore, many Vietnamese commodities have lost their competitive advantage.
 
Tariff cuts on meat imports applied in 2007 and 2008 were earlier set at higher rates than the country’s WTO commitment.
 
The sudden cuts, without technical barriers, led to a mass import of meat into the country in 2009, ruining many local farmers while customers were inundated with poor-quality frozen meat.
 
In the financial sector, forecasting and macro management have seen embarrassments.
 
About 20 percent of small- and medium-sized enterprises have gone bankrupt because of an inability to access funds. A further 60 percent of companies have also faced a host of difficulties, especially in finding a balance between supply and demand due to a hike in input costs and a shortage of capital.
 
The former Deputy PM has said Vietnam is currently facing a dilemma of whether to focus on growth or quality, and that the two contradict each other.
 
Quality includes capacity, sustainability, and stability at the macro level in addition to social welfare. But if monetary policies are tightened to stabilize macro development, it will be hard to develop the economy.
 
Conversely, if monetary policies are loosened, growth targets can be hit, but macro development will be unstable, said Former Deputy PM Khoan.
 
The second dilemma is balancing local and foreign markets. At present, the foreign market makes up 60 percent of the country’s GDP. However, if the local market isn’t capitalized on, it will create favorable conditions for foreign enterprises to control the market.
 
Another dilemma is to what extent the Government should intervene in regulating the market. If the Government doesn’t intervene, it will be unable to monitor and adjust market conditions. But on the contrary, if it is tightened, enterprises will find it hard to develop their businesses.
 
In order to take full advantage of the WTO membership and limit difficulties, economists have said more reforms need to be accelerated, and the country’s quality of growth and enterprises’ competitive capacity must be improved. 

Source: SGGP

Achievements, challenges for Vietnam after 3 years in WTO

In Uncategorized on April 5, 2010 at 11:20 am

Three years after becoming a member of the World Trade Organization (WTO), Vietnam has gained both direct and indirect achievements in socioeconomic development and administrative reform, but it has also encountered several difficulties in adopting new policies.

Workers package rice for export at Foocosa Company. After joining the WTO in 2007, many Vietnamese industries have benefited greatly (Photo: SGGP)

Successes
 
Since joining the WTO in 2007, Vietnam has attracted more than 4,000 foreign direct investment (FDI) projects worth over US$114 billion, 4.5 times higher than the target set for the 2006-2010 period.
 
The country’s export turnover has also soared sharply. Export and import turnover in 2008 and 2009 reached US$150 billion each year, equal to over 160 percent of the country’s GDP.
 
Vietnamese commodities have been exported widely to 150 countries and territories, with many sectors benefiting from WTO membership including labor-intensive industries like clothing, footwear and electronics.
 
Vietnamese goods are no longer discriminated against and domestic customers now have opportunities to buy a variety of imported goods at cheaper prices.
 
Joining the WTO has also raised people’s awareness of international integration, which has changed Vietnam’s global position and led to an extensive reworking of a number of the Government’s policies.
 
The legal system has been streamlined and undergone many administrative reforms as well.
 
Former Deputy Prime Minister Vu Khoan said that 30 percent of administrative procedures have been reduced under international pressure to simplify processes.
 
Opening the market, removing tax barriers and subsidies, applying principles of non-discrimination, and implementing transparent policies have facilitated the development of local enterprises, and thus business standards have gradually improved.
 
Challenges
 
Since the country’s WTO accession, however, not all enterprises have been informed about the Vietnamese Government’s bilateral and multilateral commitments.
According to the Ministry of Industry and Trade, only 20 percent of businesses have taken full advantage of the country’s WTO membership as related to tariffs and goods origin.
 
Therefore, many Vietnamese commodities have lost their competitive advantage.
 
Tariff cuts on meat imports applied in 2007 and 2008 were earlier set at higher rates than the country’s WTO commitment.
 
The sudden cuts, without technical barriers, led to a mass import of meat into the country in 2009, ruining many local farmers while customers were inundated with poor-quality frozen meat.
 
In the financial sector, forecasting and macro management have seen embarrassments.
 
About 20 percent of small- and medium-sized enterprises have gone bankrupt because of an inability to access funds. A further 60 percent of companies have also faced a host of difficulties, especially in finding a balance between supply and demand due to a hike in input costs and a shortage of capital.
 
The former Deputy PM has said Vietnam is currently facing a dilemma of whether to focus on growth or quality, and that the two contradict each other.
 
Quality includes capacity, sustainability, and stability at the macro level in addition to social welfare. But if monetary policies are tightened to stabilize macro development, it will be hard to develop the economy.
 
Conversely, if monetary policies are loosened, growth targets can be hit, but macro development will be unstable, said Former Deputy PM Khoan.
 
The second dilemma is balancing local and foreign markets. At present, the foreign market makes up 60 percent of the country’s GDP. However, if the local market isn’t capitalized on, it will create favorable conditions for foreign enterprises to control the market.
 
Another dilemma is to what extent the Government should intervene in regulating the market. If the Government doesn’t intervene, it will be unable to monitor and adjust market conditions. But on the contrary, if it is tightened, enterprises will find it hard to develop their businesses.
 
In order to take full advantage of the WTO membership and limit difficulties, economists have said more reforms need to be accelerated, and the country’s quality of growth and enterprises’ competitive capacity must be improved. 

Source: SGGP

China ‘regrets’ WTO decision on film, music trade

In World on December 22, 2009 at 1:14 pm

China said Tuesday it “regrets” a decision by the World Trade Organization to reject its appeal against a ruling that orders Beijing to free up distribution of US films, music and books.








The WTO entrance

The WTO appeals body on Monday upheld its August ruling that China was breaching international trade commitments by blocking foreign-owned companies from acting as importers and wholesalers — a charge Beijing denies.


“China has conscientiously carried out its obligations under WTO rules in terms of access to the publishing market since its entry into the WTO,” the commerce ministry said in a statement on its website.


“China thinks cultural products feature commercial value as well as cultural value, which determines that the management of the trade of such products should be differentiated from that of general commodities.”


The commerce ministry said it “regrets” the ruling but did not say if China would comply with the appellate body’s decision. Beijing faces possible sanctions if it fails to free up imports.


The ruling, which is now final, affects distribution in China of foreign films for theatrical release, DVDs, music, books and journals.


China currently allows 20 foreign films to be shown in local movie theatres every year on a revenue-sharing basis, according to Chinafilm.com, a government linked website.


The United States hailed the decision as a “big win”.


“We are very pleased that the WTO has found against China’s import and distribution restrictions,” US Trade Representative Ron Kirk said in a statement.


“The Appellate Body’s findings are key to ensuring full market access in China for legitimate, high-quality entertainment products and the exporters and distributors of those products,” he said.


Kirk added that “we expect China to respond promptly to these findings and bring its measures into compliance.”


The United States and China have for months been locked in a tit-for-tat trade tussle involving a number of WTO complaints and retaliatory measures on an array of products, from chicken meat to US car products to Chinese tyres.


Source: SGGP Bookmark & Share

WTO states seek early ‘green’ deal ahead of climate summit

In World on December 3, 2009 at 2:35 am

A bid to free up trade in environmental goods and services gained new momentum Tuesday at a WTO meeting, with some nations calling for a deal ahead of a major climate summit in Copenhagen.


An early accord could also act as a much-needed stimulus for negotiations on a broader global trade pact that are currently stalled, said trade ministers gathered at a meeting of 153 WTO member states in Geneva.


“Some like-minded nations, including Japan, are considering conducting discussions with a view to achieving an early agreement to liberalise trade in environmental goods,” Japanese Economy, Trade and Industry Minister Masayuki Naoshima told the meeting.


“I hope that other interested members will join these discussions, and provide fresh impetus to the (Doha) Round as a whole,” he added.


The United States and several other nations also backed the push for an early deal.


Launched in 2001, the Doha Round of trade liberalisation negotiations is deadlocked because of disagreements between developed and developing nations over the level of cuts on farm subsidies and industrial product tariffs.








Japanese Trade Minister Masayuki Naoshima delivers a speech on the second day of a WTO ministerial conference in Geneva.

Liberalising trade in environmental goods and services is part of Doha talks, and ministers argued that as climate change was high on the political agenda, it was an opportune moment to intensify negotiations on lowering tariffs on technologies that help offset the effects of global warming.


“It’s riding with the political wave … This is just elementary common sense,” Tim Groser, New Zealand trade minister said during a forum on the sidelines of the World Trade Organization meeting.


World leaders are set to gather over December 7-18 in Copenhagen to draft a successor treaty to the Kyoto Protocol, which expires in 2012.


“With momentum building to advance climate change policies, we must show, through concrete actions, that trade is an important part of policies to combat climate change,” Naoshima said.


Two major players, the United States and the European Union, said work should be intensified to forge the agreement on environmental goods and services.


“We fully support fast-tracking action in the WTOs work on liberalizing trade in climate-friendly technologies,” US Trade Representative Ron Kirk told a working session of the ministerial conference.


Meanwhile, outgoing European Trade Commissioner Catherine Ashton also pledged the EU’s engagement on the issue.


“Trade policy can make a significant contribution, through the liberalisation of trade in relevant environmental goods and services,” she said on Monday.


“We in Europe invite all members of the WTO to intensify work in this area,” added Ashton, who took up her new post as EU Foreign Policy chief on Tuesday.


However, Indonesian trade minister Mari Pangestu stressed the importance of financing to developing countries preparing to deal with the effects of climate change.


“Lowering tariffs on clean technology is not going to be enough … to address the climate change objective,” she said.


“From a developing country perspective, we also need to have financing and capacity building,” she added.

India, China and other growing developing nations have been pressing for Western nations to offer technology and other support to help them reduce the intensity of emissions blamed for global warming.


Source: SGGP Bookmark & Share

US vows to support Russia’s entry into WTO

In World on September 22, 2009 at 1:07 pm

 Washington is eager for Russia’s entry into the World Trade Organization, and promised Monday to offer “constructive support” toward that end, US trade representative Ron Kirk said Monday.








WTO headquarters entrance in Geneva

Kirk’s comments came after he met with Russia’s Deputy Prime Minister Igor Shuvalov in Washington for talks on a range of bilateral and multilateral trade issues.


Among the trade issues discussed were US exports of agricultural products, protection of intellectual property rights, and licensing procedures for certain information technology products, Kirk’s office said in a press release.


“Ambassador Kirk welcomed the prospect of renewed engagement with Russia on its WTO accession negotiations following a period of uncertainty regarding Russia’s intentions,” the statement from Kirk’s office read.


“However he again noted that progress in these multilateral negotiations has always depended, and will still depend, on Russia’s dedication and work toward that end,” the statement said.


Source: SGGP

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