Since global trade volumes started to recover towards the end of 2009, it became clear that the protectionist fears have not materialized. On the contrary, there is evidence that trade has been further liberalized over the past few years. Average tariff barriers declined slightly between 2008 and 2009, in particular on agricultural products. Now, as trade flows begin to recover and economies move back to growth, the global economic landscape appears more integrated than before.
What do these recent developments mean for Vietnam? Two reports on trade recently released by the World Economic Forum provide indications about Vietnam’s performance in terms of enabling trade (**). By joining the WTO, Vietnam has provided a stronger basis for continuing its successful integration into the global economy and thereby boasting growth. The liberalization of trade barriers related to accession has made Vietnam’s ranking in the Enabling Trade Index improve by 18 places between 2009 and 2010, which is also the highest improvement in ASEAN.
- Vietnam’s textile, garment and footwear to benefit the most from EVFTA
- WB backs Vietnam’s efforts to move higher in global value chain
- JICA: Vietnam maintains outstanding growth pace
- VIETNAM BUSINESS NEWS HEADLINES OCTOBER 16
- VIETNAM NEWS HEADLINES OCTOBER 16
- UNICEF and partner to give young people in Vietnam job skills training
- PM asks for enhancing innovation at SOEs
- Hanoi hosts International machinery exhibition
- HCM City hospitals urged to improve quality further as patients remain dissatisfied
- Ministry launches programme to expand learning of foreign languages