Socialist Republic of Vietnam

New York, Nov. 13 (VNA) -- Viet Nam attaches great importance to integrating into the world economy, first and foremost, to expand trade relationship with other countries, said Ms. Ninh Thi Binh, Viet Nam's representative to the UN Committee for Economic-Financial Affairs, in New York on Nov. 12.

She said at a debate on "International trade and development" that Viet Nam considered its early accession to the World Trade Organisation (WTO) as the first priority in this process.

On Viet Nam's preparations for its admission to the WTO, Binh said:

"We make every effort to reform the country's economy into a dynamic market economy with a view to ensuring a full international integration. For the success and smooth negotiations for WTO membership, we have actively been preparing concrete action plans and started bilateral negotiations with the WTO member countries. We highly appreciate the value and early support already extended by many countries to Viet Nam's bid for the WTO membership. We hope to receive full support from the WTO members and international community to join the WTO by the end of 2004."

Binh pointed out the important role of trade toward development. She said:

"We strongly believe that in globalization context, trade can provide an opportunity for developing countries to speed up economic growth, providing predictable and expanding resources, thus helping eradicate poverty and reduce the development gap. It is essential for developing countries to have appropriate macro economic policies to grasp opportunities created by globalization, particularly those related to trade, in striving for achievement of development goals. Trade needs to be promoted and placed high in the development strategy of developing countries," she said.

"However, she added, "favourable conditions for promoting and increasing the share of the developing countries in international trade are critically needed. It is necessary to build an equitable, secure, non-discriminatory and predictable multilateral trading system that should facilitate the development of trade in developing countries."

She expressed Viet Nam's concern about the declining world trade, low prices of some primary commodities, little progress in trade liberalization, and high tariff rates for developing countries' products. Those problems and obstacles, she said, have resulted in many negative impacts on the improvement of international trading system and the implementation of development goals.

The Vietnamese representative asked for an urgent need to address those problems for the interest of not only the poor, but also the entire world. She said:

"In this regard, the international community should show stronger political will and make greater efforts in post-Doha negotiations to seek concrete ways and means to solve those problems. We are of the view that the UNCTAD should be strengthened and continue to play a central role in providing adequate technical assistance for developing countries to deal with trade problems. In order to accommodate the development perspective, the WTO regime should be readjusted in a fair manner. All special and differential treatment should be seriously carried out and strengthened to allow their developing countries, particularly the under-developed countries and small economies to participate in the international trading system together with their developed partners."