Costa Rica recognizes Vietnam as a country with a market economy.

Costa Rica's recognition of Vietnam as a country with a market economy reflects the reality of Vietnam's achievements in the process of development and integration into the world economy.

Costa Rican Foreign Trade Minister Manuel Tovar presented a diplomatic note on Costa Rica's recognition of Vietnam as a market economy at the headquarters of the Ministry of Industry and Trade . (Photo: PV/Vietnam+)

A representative of the Ministry of Industry and Trade informed that on August 5, with the consent of Costa Rican President Rodrigo Chaves, Costa Rican Foreign Trade Minister Manuel Tovar directly announced and handed over a diplomatic note on Costa Rica's recognition of Vietnam as a market economy country at the headquarters of the Ministry of Industry and Trade, becoming the 73rd country to recognize Vietnam's market economy status.

Costa Rica is a member of the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD - an organization of 38 countries with the most developed market economies in the world). Costa Rica's legal regulations include regulations on investigation and application of trade defense measures. As of December 31, 2023, according to WTO statistics, Costa Rica has initiated 12 anti-dumping investigations on imported goods from countries such as Brazil, Chile, Mexico, the United States, Nicaragua, El Salvador, Venezuela and Guatemala.

The fact that the Minister of Foreign Trade of Costa Rica issued a diplomatic note recognizing Vietnam as a market economy in anti-dumping and anti-subsidy investigations is a positive move in the context that we are asking some trade partners to recognize Vietnam's market economy status.

At the meeting, Minister Nguyen Hong Dien welcomed Costa Rica’s diplomatic note recognizing Vietnam as a market economy in anti-dumping and anti-subsidy investigations. Costa Rica’s recognition of Vietnam as a market economy reflects the achievements Vietnam has made in the process of national development and integration into the world economy, and will contribute to promoting the development of bilateral economic and trade relations between the two countries./.

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