Viet Nam Making Good Progress to meet APEC Objectives
An independent report has found that Viet Nam has made good progress on tariff reform and in removing the pervasive system of administrative controls and restrictions on trade. The report also highlights Viet Nam's success in achieving economic growth and improving the well-being of the people.
The "Viet Nam IAP Study Report" is a review of the implementation of Viet Nam's Individual Action Plan (IAP) to achieve APEC's free trade and investment goals. Compiled by Mr. Bob Warner of the Director Centre for International Economics in Australia, the report covers thirteen specific issue areas relating to the realization of APEC's goals.
In the report Mr. Warner notes while there is still work to be done, Viet Nam has made good progress on tariff reform and in removing the pervasive system of administrative controls and restrictions on trade.
"Viet Nam's reform and development agenda over the last decade and a half has been extraordinarily wide ranging, reflecting the challenge of a transition from central planning to a market economy," Mr. Warner said in the report.
"Viet Nam has confirmed that it will eliminate all trade related investment measures that are prohibited by the Agreement on Trade Related Investment Measures upon accession to the WTO," Mr. Warner states in the report.
"The Government has also under¬taken to remove some remaining measures, for example import surcharges and export subsidies upon accession to the WTO.
"Viet Nam has been remarkably successful in achieving economic growth and improvements in the well-being of its people since it began its comprehensive program of restructuring and renovation, or doi moi, in the late 1980s."
The report notes that agencies such as customs have undertaken significant reforms.
"Viet Nam's customs system has come a long way in a relatively short period of time and in the face of some difficult geographical, infrastructural and capacity constraints.
"A Customs Modernisation Strategy that is receiving donor support should provide the basis for significant improvements in customs procedures and processing."
Mr. Warner also observes that access to information has also improved.
"There have been significant improvements in the quality and availability of information on laws, economic and social statistics and the operations of govern¬ment in recent years. This reflects some important policy changes and also increasing use of information and communications technology."
Excerpts from each of the thirteen areas of assessment are now available by clicking here. The full report will be available on the e-IAP website once it has been presented to APEC Senior Officials in Seoul on March 4.
IAPs serve as a roadmap for APEC economies to achieve the Bogor Goals of free and open trade and investment in the APEC region. Agreed in Bogor, Indonesia, in 1994, the target for achieving the Bogor Goals is 2010 for industrialized economies and 2020 for developing economies. Seven APEC Member Economies are having their IAPs' reviewed at the current round of APEC meetings in Korea. This process involves a presentation by the Independent Expert to a meeting of Member Economies followed by an opportunity for these economies to question the economy under review on the details of their IAP.
The review of Viet Nam's IAP took place in Seoul on Wednesday.