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ruben.maritime

The first web2.0 spanish blog about Maritime Affairs. El primer blog web2.0 español sobre el sector marítimo.

Vietnam to join WTO next month

SINGAPORE 13 December – After years of deliberation, the Republic of Vietnam will officially become a member of the World Trade Organization (WTO) on 11 January. "In principle, it is a good move," said an official from Ho Chi Minh City-based Falcon Shipping, the Vinalines subsidiary that owns and operates a diversified fleet of about 11 vessels. He told Fairplay the inclusion will give greater market access for Vietnamese light industries and their products. "Container movement is certainly going to benefit as a result of wider trade." Among other areas, the removal of quota and tariffs on Vietnamese imports will significantly help the Vietnamese garment industry. WTO membership will give nations aggrieved by unfair trading practices the opportunity can take their case before a tribunal, while it also offers a framework for increasing the network of forwarding agents for Vietnamese shipping lines. Last month, NYK Line acquired a stake in Vietnam Ocean Shipping Agency, hoping to benefit from Vietnam's new status.

 

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