The recognition of Vietnam’s market economy status means that in any future antidumping investigations by Australia or New Zealand, Vietnam will be subject to the same assessment process as other WTO members.

Australian Minister for Trade Simon Crean said Vietnam has made “substantial market access commitments.”

The country has “come a long way since the introduction of the doi moi economic reforms in 1986, highlighted by its accession to the Word Trade Organization in 2007,” he said in a press release Friday.

“I urge Australian business to take advantage of the significant market opportunities in Vietnam’s increasingly open economy,” Crean said.

Source: Thanh Nien