Politics · Vietnam Bureau
Vietnam marks two decades in WTO with strong trade integration gains
Vietnam celebrated 20 years of World Trade Organisation membership this week, showcasing significant economic achievements since joining the multilateral trading system. The milestone was marked by a government conference and business forum held alongside the country's third Trade Policy Review.
LSN Vietnam ·
The Ministry of Industry and Trade convened the commemorative event to assess Vietnam's two-decade journey within the WTO framework, highlighting the nation's progress in trade liberalisation and economic integration. Since accession in 2007, Vietnam has emerged as a major trading nation in Southeast Asia, with merchandise exports and foreign direct investment expanding substantially under the rules-based international trading system.
Prime Minister Le Minh Hung used the occasion to call on the WTO to maintain its support for Vietnam's continued economic development and trade expansion. Vietnam's participation in the multilateral organisation has facilitated deeper regional integration and positioned the country as an attractive investment destination for multinational enterprises seeking to diversify supply chains.
The third Trade Policy Review provides an opportunity for WTO members to assess Vietnam's compliance with international trading rules and for the Vietnamese government to outline future trade policy priorities. The review process typically examines a member nation's tariff schedules, trade-related legislation, and implementation of WTO agreements.
Vietnam's WTO membership has coincided with rapid GDP growth and poverty reduction, though the country continues to navigate trade tensions and global supply chain disruptions. Officials used the forum to stress the importance of maintaining an open, predictable trading environment that benefits businesses and consumers across the Asia-Pacific region.