More nations recognize VN as market economy in 2013

VGP – Viet Nam has been recognized as a market economy by a larger number of nations since it joined the World Trade Organization (WTO) seven years ago.

February 02, 2014 9:49 AM GMT+7

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China was the first nation recognizing Viet Nam as a market economy in 2004. When Viet Nam became an official member of the WTO in 2007, 14 countries acknowledged Viet Nam as a full market economy.

In 2013, seven nations including Morocco, Uruguay, Mongolia, Namibia, Serbia, Seychelles and Congo joined the list of countries recognizing Viet Nam as a market economy.

As of December 2013, 40 nations across the five continents appreciated the market economy of Viet Nam with 17 ones in Asia, nine in Europe, eight in Africa, six in America and two in Oceania.

With the aim of being recognized a full market economy, the Vietnamese Government has launched a number of measures to strengthen policies, control prices, adopt a suitable interest rate, renew State-owned-enterprises, monitor land management and encourage the private sector to involve in public services.

The list of nations recognizing Viet Nam as a market economy (as of December, 2013) as follows:

No.	Nations	Date of recognition
1	Angola	April 7, 2008
2	Argentina	April 17, 2010
3	Australia	February 27, 2009
4	Bangladesh	November 2, 2012
5	Belarus	May 17, 2010
6	Brunei	May 3, 2007
7	Cambodia	May 3, 2007
8	Chile	September 7, 2007
9	China	October 2004
10	Congo	October 29,2013
11	Germany	March 10, 2008
12	Iceland	July 3, 2012
13	India	October 25, 2009
14	Indonesia	May 3, 2007
15	Japan	October 30, 2011
16	Kazakhstan	November 1, 2011
17	Laos	May 3, 2007
18	Liechtenstein	July 3, 2012
19	Malaysia	May 3, 2007
20	Mongolia	November 21, 2013
21	Morocco	December 9, 2013
22	Mozambique	2010
23	Myanmar	May 3, 2007
24	Namibia	November 20, 2013
25	New Zealand	February 27, 2009
26	Nicaragua
27	Norway	July 3, 2012
28	Pakistan	August 29, 2012
29	Panama	2010
30	Peru	December 3, 2007
31	Philippines	May 3, 2007
32	Republic of Korea	November 16, 2009
33	Russia	July 6, 2007
34	Singapore	May 3, 2007
35	South Africa	May 24, 2007
36	Serbia	2013
37	Seychelles	2013
38	Sweden	July 3, 2012
39	Thailand	May 3, 2007
40	Ukraine	November 6, 2007
41	Uruguay	December 9, 2013
42	Venezuela

(Source: Viet Nam Chamber of Commerce and Industry)

By Thuy Dung