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Vietnam to join WTO Sometime Soon

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HO CHI MIN City, Vietnam (January 30th) – In response to the question “Do you think Vietnam has time to build a legal system in line with WTO regulations by 2005?”, the director of the Ministry of Justice’s International Law Department, Hoang Phuoc Hiep answered: “Give Vietnam two or three years extra to adjust the […]

HO CHI MIN City, Vietnam (January 30th) – In response to the question “Do you think Vietnam has time to build a legal system in line with WTO regulations by 2005?”, the director of the Ministry of Justice’s International Law Department, Hoang Phuoc Hiep answered: “Give Vietnam two or three years extra to adjust the Vietnamese legal system after the country joins the organization.”
Vietnam has to work on two parts of the legal system: The first part deals with laws the WTO requires all its members to hold. Among these is a competition law which aims to create a fair market for all businesses. The law covers a whole spectrum of regulations. The other group of laws help Vietnam ensures its own interests. Vietnam is developing anti-dumping regulations and subsidy regulation to protect its industries.
Vietnam should finalize its WTO negotiations before the next Doha meeting. Mr. Hoang Phuoc Hiep supposes Vietnam should finish all negotiations by the end of this year so it can deal with all the necessary procedures in 2004.(MH) source: Vietnam Business News

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