Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân (left) and WTO Director-General Ngozi Okonjo-Iweala. — VNA/VNS Photo

GENEVA  — Việt Nam comprehensively supports the reform process of the World Trade Organisation (WTO) in order to improve the organisation's functions, especially the early and complete restoration of the Dispute Settlement System, Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân has affirmed.

Meeting WTO Director-General Ngozi Okonjo-Iweala in Geneva on Monday on the sidelines of the 17th negotiation session on a free trade agreement between Việt Nam and the European Free Trade Association (EFTA), Tân shared updates on Việt Nam’s commitments and actions, demonstrating its role as an active and responsible member of the WTO.

One of the key highlights is that Việt Nam has completed the ratification procedures for the Fisheries Subsidies Agreement (Phase 1). The country is also one of the three crucial WTO members that enable the agreement to officially enter into force on September 15, 2025. This is a significant step forward, not only contributing to the protection of global fishery resources but also reaffirming Việt Nam’s commitment to sustainable development in trade, the official said.

In addition, Việt Nam is taking proactive steps in participating in other important WTO initiatives. Its Government has officially approved its participation in the Multi-Party Interim Appeal Arbitration Arrangement (MPIA) – a flexible mechanism designed to maintain and promote the WTO’s dispute settlement function amidst complex negotiations over dispute settlement reform.

Regarding the e-commerce initiative, he noted, Việt Nam is in the process of finalising domestic procedures to join soon, which will open up new opportunities for businesses, especially small- and medium-sized enterprises (SMEs), to access international markets.

Việt Nam highly values the outcomes of the WTO's 13th Ministerial Conference (MC13) and will work closely with other WTO members to prepare for the MC14 in Cameroon to secure substantive results, Tân added.

For her part, WTO Director-General Ngozi Okonjo-Iweala expressed her pleasure and appreciation for Việt Nam’s substantive contributions to the WTO’s activities. She welcomed Việt Nam’s completion of the ratification of the Fisheries Subsidies Agreement, and announced that Việt Nam will be honoured at the WTO General Council meeting on September 15, marking the official entry into force of the agreement.

She also recognised Việt Nam’s proactive approach, particularly the Prime Minister’s approval of the participation in the MPIA, describing it as "hot news" and a very positive step.

She perceived that Việt Nam's economy continues to perform well, despite global trade tensions, and commended it as a model of dynamism within the multilateral trading system.

The Director-General praised the Vietnamese Mission in Geneva for its recent effective efforts and contributions. In addition, she expressed interest in the ongoing negotiations on reciprocal tariffs between the US and various countries, including Việt Nam, due to the potential implications for the foundational principles of the WTO. She expressed her hope that Việt Nam will continue to share information and take a strong stance in support of the multilateral trading system.

In response, Tân shared Việt Nam's consistent stance on respecting the WTO, ensuring that the negotiation process does not affect the interests of other members and is in accordance with WTO regulations, including transparent notification to the organisation.

The deputy minister also briefed the WTO leader on the particularly important activities that Việt Nam is preparing for next year, including actively preparing for the 3rd Trade Policy Review (TPR), scheduled to take place in November 2026. This is an important mechanism for WTO members to better understand each other's trade policies. — VNS