PM: High hopes for Doha talks

The Doha round of trade talks would be an important step in building and developing a freer and fairer world trade system, according to Prime Minister Nguyen Tan Dung.

The PM was speaking here yesterday at a meeting with the Director General of the World Trade Organisation, Pascal Lamy, who is visiting Vietnam to attend the World Economic Forum on East Asia.

Vietnam and other ASEAN member countries expected to complete the Doha negotiation round with a balanced and practical results taking into consideration the benefits to developing and underdeveloped countries.

The Doha round, started in 2001, intends to improve the economic circumstances of developing countries. Developed countries would have to reduce their agricultural export subsidies, while developing countries would have to open their financial markets.

Vietnam participated in the 2007 negotiation round. The round was initially expected to end in 2004 but several deadlines were missed due to disagreements between developing and developed countries on tariffs reduction and agricultural subsidies. Concerned parties had agreed last year to complete the round in 2010.

The Prime Minister expressed his hope that the WTO would continue to support Vietnam in its participation in WTO agreements, in technical assistance and in human resources training.

WTO Director General Pascal Lamy highly applauded the achievements of Vietnam three years after its entrance into the organisation, including effective economic re-structuring to heighten competitiveness, the maintenance of high export value and increased foreign direct investment.

In particular Vietnam had coped well with the world financial crisis and global economic downturn in 2009 than other countries while still attaining a high growth rate, Lamy said.

This was proof indicating that Vietnam was actively building and improving its open economy, he said, adding that WTO was willing to support the country in building specific roadmaps for global economic integration and receiving Vietnamese trainees to work at the organisation.

He also agreed on the need for a rapid conclusion to the Doha round and emphasised that successful negotiations could both act as a stimulus package for the world economy and foster global financial structure reform.

He hoped Vietnam, as the chair of ASEAN, would contribute as an important voice at the coming G20 Conference in Canada to encourage a timely conclusion to the round.

On the same day, Prime Minister Dung also met with leaders of major international industry and finance corporations, including Dubai Holdings, Deutsche Post DHL and Manpower.

At these meetings, Dung emphasised that Vietnam encouraged foreign corporations and investors to come and invest and widen their business in Vietnam.

Meanwhile, leaders of these corporations expressed the hope to do business in the country and expected the Vietnamese Government to continue its support and administrative reforms to facilitate foreign investment.