Costa Rica Recognizes Vietnam’s Market Economy Status – Image: MOIT
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With the approval of President Rodrigo Chaves, Costa Rica’s Minister of Foreign Trade, Manuel Tovar, personally announced and presented the Diplomatic Note recognizing Vietnam as a market economy country, making Costa Rica the 73rd country to grant this status to Vietnam.
As a member of the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD), Costa Rica maintains a robust legal framework that includes provisions for investigating and applying trade remedy measures. According to WTO statistics, as of December 31, 2023, Costa Rica had initiated 12 anti-dumping investigations against imports from countries such as Brazil, Chile, Mexico, the United States, Nicaragua, El Salvador, Venezuela, and Guatemala.
Minister Tovar’s presentation of the Diplomatic Note recognizing Vietnam’s market economy status in anti-dumping and countervailing duty investigations is a positive step forward as we seek similar recognition from other trading partners.
At the meeting, Minister Nguyen Hong Dien welcomed Costa Rica’s recognition of Vietnam as a market economy country in anti-dumping and countervailing duty investigations. He emphasized that this recognition reflects the significant achievements Vietnam has made in its development and integration into the global economy and will further boost bilateral economic and trade relations between the two countries.
Prior to Costa Rica, 72 other countries had recognized Vietnam’s market economy status, including major economies such as the United Kingdom, Canada, Australia, Japan, South Korea, and New Zealand.
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