Costa Rica is the 73rd country to recognize Vietnam as a market economy.

Ministry of Industry and Trade receives diplomatic note on recognizing Costa Rica's market economy status - Photo: BCT

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 country with a market economy at the headquarters of the Ministry of Industry and Trade.

Thus, Costa Rica became the 73rd country to recognize Vietnam's market economy status.

Costa Rica is a member of the World Trade Organization (WTO) and a member of 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 provisions 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 country with a market economy reflects the reality of the achievements that 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.

According to the Ministry of Industry and Trade, up to now, 73 countries have recognized Vietnam as having a market economy, including major economies.

International organizations have recognized the remarkable progress of Vietnam's economy. At the same time, Vietnam has participated in many high-quality Free Trade Agreements (FTAs).

Among them are major economies that have recognized Vietnam's market economy status such as China (2004); Russia and ASEAN members (2007); Australia, New Zealand (2008); India, South Korea (2009); Japan (2011); members of the European Free Trade Association EFTA such as Norway, Switzerland (2012); Canada (2016) and the United Kingdom (2023)...

Source: https://tuoitre.vn/costa-rica-la-nuoc-thu-73-cong-nhan-viet-nam-co-nen-kinh-te-thi-truong-2024080516063711.htm