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FREE TOPIC: Viet Nam and WTO

Viet Nam joined in World Trade Organization at January, 1st, 2007 and became 150th member of this world wide organization. Vietnam will have both new opportunities and challenges.

Before joining this organization, Viet Nam government realized the importance of having an Open trade business environment, so when we joined WTO, we take less time to integrate with new environment than other members and get many successes.

Advantages of joining WTO:

Enlarge the selling market: Before joining WTO, with the open economy and encouraging foreign investment, Vietnam has expanded trade relationship mainly with ASEAN, EU and North American countries and the world. After joining WTO we can easily get trade relationship with many other WTO members and have new chance with the low taxes trade environment.

Access high-tech industry: WTO has many important members which are developed countries and they have high level of science, equipment. Accessing WTO, we will be able to receive the new technology, more application in production, operations, management, shortening the distance between the WTO membersand at the same time we also receive the human resources and material resources from these countries. In addition, the WTO also has special policies to support developing countries: technical assistance and training; help build infrastructure, solve difficulties in the transition of Structure economy; create opportunities for developing countries, expands international, requires WTO members to protect the developing countries if these countries.

Position in the world: Vietnam's position will be improved in international relations; and create the new force, equal in the countries members of the WTO in the voting for the public problems, especially in the process of solving problems in business disputes on international trade.

Living conditions of Vietnamese: WTO contributes to improving the living conditions. Vietnam are part of the global market. Flow of goods will cycle through Vietnam's market as well as all other markets of other WTO members. We can get Multiform of goods with the low prices. To compete to survive and grow, many companies and coporations must reduce cost, invest new technologies and prove the good qualities. So the consumer will get the best foods with the best prices.

National policies: Joining WTO is an opportunity that the government of a country and other leader must think more carefully about nation economy policies that help to keep many companies' foothold on the world open market.

Challenges:

World competition: The biggest challenge for Vietnam is the business competitiveness is not high. Open market, with opportunities to expand market, the Vietnam companies face huge challenges as competition with foreign companies.Although achieved great achievements in past, but generally, the Vietnam economy still overcome countries. many enterprises are limited in self control, performance and adapt to changes of business environment.

WTO Law: The challenge for us is to obey many new complex laws of this organization. Business people must be ready to access to global markets, and understand deeply and seriously implement the regulations in the business of international trade, such as copyright issues, standards, quality sanitation and safety, ensure the rights of consumers.

Human resource quality: We must prepare good human resources with high level for acquirements of new technologies, improving product quality, reduce cost, increase after-sales services.

Vietnam will have more famous trademarked goods to compete with products of other countries!

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