Vietnam backs WTO-led multilateral trade system: diplomat

Ba made the statement at a working session with a delegation of the American Chamber of Commerce to the European Union (AmCham EU) in Geneva on September 12, on the sidelines of the three-day WTO Public Forum 2024. The US delegation, headed by Associate Policy Manager Micol Bertolini, comprised representatives from major corporations like Amazon, Philip Morris International, British American Tobacco and Jones Day.

Discussing multilateral trade issues and exploring areas of cooperation where both sides could contribute to the WTO, the Vietnamese diplomat highlighted Vietnam’s willingness to uphold fundamental principles of the organisation, particularly in ensuring fair trade for its developing members in the current context.

He noted Vietnam is actively coordinating with other members to push for a shake-up of the WTO, including the resumption of its dispute settlement mechanism and its adaptation to sustainable trade requirements. It is also necessary to ensure the competitiveness of developing members, including Vietnam, in accessing the markets of developed members.

The AmCham EU delegation shared information on the high level of interest among US multinational conglomerates in the WTO and emphasised the importance of the organisation in maintaining a stable and transparent business environment, which fosters the private sector's confidence in expanding trade and investment.

AmCham EU affirmed its support for the WTO's stronger role in curbing unilateral measures that lack consultation and do not adequately consider the interests of all parties in international trade.

Aligning itself with Vietnam's policies and priorities regarding the WTO's activities, the delegation shared information about its lobbying strategies and affirmed its willingness to collaborate with Vietnam in areas where both sides share common interests.