Vietnam Seeks Enhanced WTO, WEF Support Amid Trade Policy Review

Deputy Prime Minister Nguyen Van Thang has called for greater support from the World Trade Organization (WTO) and the World Economic Forum (WEF) to bolster Vietnam's ongoing economic growth and its contributions to international trade. Thang highlighted Vietnam's active role as a WTO member, noting its contributions to the organization's agenda, including the ratification of the first phase of the Agreement on Fisheries Subsidies, participation in negotiations for the expanded Information Technology Agreement (ITA2), and preparations for its next Trade Policy Review scheduled for late 2026. Under its one-party system, Vietnam has achieved remarkable economic growth by promoting economic globalization and attracting foreign investment. Especially amidst its complex relationship with China, Vietnam has become a crucial manufacturing hub for international companies seeking to diversify their supply chains. In this context, technical and policy support from international organizations like the WTO and WEF is essential for Vietnam to establish a more advantageous position within the international trading system and pursue further economic development. This appeal underscores Vietnam's commitment to deepening its engagement with the international community and enhancing its economic influence. The expansion of the ITA2, in particular, could directly contribute to fostering Vietnam's high-tech industries and strengthening its export competitiveness in line with the advancements in the digital economy. Furthermore, the Trade Policy Review will serve to ensure Vietnam's trade regime aligns with international standards and provide opportunities for further reforms.