Vietnam’s Ministry of Industry and Trade has suggested the US Commerce Department’s finding that Vietnam is not a market economy for trade remedies purposes, was not objective or fair, according to a statement on its website.
“If the US Department of Commerce had reviewed the records and practices in Vietnam objectively and fairly, it would have been able to acknowledge the fact that Vietnam is a market economy,” it reads.
It goes on to point out that Vietnam is recognised as a market economy by 72 other countries and that it provided 20,000 pages of documentation “demonstrating Vietnam’s strong progress on all six criteria set by the US Department of Commerce”.
This comes after the Department of Commerce announced yesterday that Vietnam would not have its non-market economy status removed based on “sustained and pervasive government influence” over Vietnam’s economy.
For background see: Unpacked: Vietnam’s Non-Market Economy Review