Around 500 representatives from enterprises in the trade sector gathered in HCM City on December 19 for a conference to introduce Vietnam’s WTO commitments.

Speaking at the conference, Trade Ministry leaders said that joining the WTO will help Vietnamese enterprises engage in the global playground, thus raising Vietnam’s position in the international arena. However, Vietnamese enterprises will have to face many anti- dumping lawsuits and antagonistic subsides affected by the non-market economy.

Prof. Peter Naray, leader of the European consultant group from Multilateral Trade Assistance Project (MUTRAP) II, said that Vietnam should make greater effort to be recognised as having an early market economy and to ensure its trade benefits. To reach this goal, the Vietnamese Government and enterprises should make transparent and detailed policies and laws, Mr Naray said.

According to the Ministry of Trade, there will be likely anti-dumping lawsuits against the Vietnamese garment and textile sector on the US market as WTO commitments and PNTR for Vietnam come into effect as of January 11, 2007. From that time, the US will remove garment and textile quotas for Vietnamese enterprises, possibly leading to a high growth in Vietnam’s garment and textile exports to the US.

Economic experts advised Vietnamese enterprises not to transfer products to a third country and not to vie for contracts by reducing prices and shifting export markets in order to mininise this product’ export growth on the US market.