Vietnam and Japan Relations
Vietnam – Japan Relations The economy of Vietnam
Vietnam – a country locates in South East Asia which has the area of 329,560 sq km. With the history spans over 4000 years, Vietnam’s identity has been shaped by long-running conflicts with foreign forces. The Socialist People’s Republic of Vietnam was founded in 1954 and unified in 1976 after the Vietnam War. Since 1986, Vietnam has embarked on the course of “Đổi mới” (Renovation Policy) – the comprehensive economic renovation which aims to eliminate the subsidy-based, bureaucratic, centrally-planned mechanism and develop a socialist-oriented multi-sector market economy.
Over that period, the economy of Vietnam has experienced rapid growth. Twenty years of liberal economic reforms have brought sweeping changes and foreign investment to a nation characterized by increasing industrialization and a reduction in poverty. Nowadays, Vietnam is in the period of integrating into the world 's economy, as a part of globalization. Vietnam became a full member of ASEAN on 28 July 1995, entered Asia-Pacific Economic Cooperation (APEC) in November 1998 and has participated ASEAN Free Trade Area (FTA).
On November 11, 2007, Vietnam officially became the World Trade Organization’s 150th member after 11 years of preparation, including 8 years of negotiation. The intention of Vietnam in accessing to WTO was to provide an important boost to the country’s economy, to ensure the continuation of liberalizing reforms and create options for trade expansion. However, serious challenges also come after become a member of WTO, requiring Vietnam 's economic sectors to open the door to increased foreign competition. At present, Vietnam has established diplomatic relationship with over 179 countries all over the world (The World & Vietnam Report – Ministry of Foreign Affairs).
Although Vietnam’s economy, which continues to expand at an annual rate in excess of 7 percent, is one of the fastest growing in the world, the economy is
Vietnam – a country locates in South East Asia which has the area of 329,560 sq km. With the history spans over 4000 years, Vietnam’s identity has been shaped by long-running conflicts with foreign forces. The Socialist People’s Republic of Vietnam was founded in 1954 and unified in 1976 after the Vietnam War. Since 1986, Vietnam has embarked on the course of “Đổi mới” (Renovation Policy) – the comprehensive economic renovation which aims to eliminate the subsidy-based, bureaucratic, centrally-planned mechanism and develop a socialist-oriented multi-sector market economy.
Over that period, the economy of Vietnam has experienced rapid growth. Twenty years of liberal economic reforms have brought sweeping changes and foreign investment to a nation characterized by increasing industrialization and a reduction in poverty. Nowadays, Vietnam is in the period of integrating into the world 's economy, as a part of globalization. Vietnam became a full member of ASEAN on 28 July 1995, entered Asia-Pacific Economic Cooperation (APEC) in November 1998 and has participated ASEAN Free Trade Area (FTA).
On November 11, 2007, Vietnam officially became the World Trade Organization’s 150th member after 11 years of preparation, including 8 years of negotiation. The intention of Vietnam in accessing to WTO was to provide an important boost to the country’s economy, to ensure the continuation of liberalizing reforms and create options for trade expansion. However, serious challenges also come after become a member of WTO, requiring Vietnam 's economic sectors to open the door to increased foreign competition. At present, Vietnam has established diplomatic relationship with over 179 countries all over the world (The World & Vietnam Report – Ministry of Foreign Affairs).
Although Vietnam’s economy, which continues to expand at an annual rate in excess of 7 percent, is one of the fastest growing in the world, the economy is
References: Communist party of Vietnam (1986) “6th National Congress Documents”, Thegioi Publishers, Hanoi. The 2008 world factbook, Vietnam people 2008-http://www.theodora.com/wfbcurrent/vietnam/vietnam_people.html Owen, Norman G., Chandler, David The emergence of modern Southeast Asia (p. 107). University of Hawaii Press, 2005. ISBN 0824828410, “Japan early trade coin and the commercial trade between Vietnam and Japan in the 17th century”. Luc, Thuan. Retrieved on May 08, 2009 - http://www.charm.ru/coins/vn/nagasaki.shtml Agreement between Japan and the Socialist Republic of Viet Nam for an Economic Partnership – Ministry Foreign of Affairs of Japan –http://www.mofa.go.jp/region/asiapaci/vietnam/epa0812/index.html Asia Regional Trading Center, Trade and Investment – Japan- Vietnam Economic Partnership Agreement http://aric.adb.org/fta.php?id=146&ssid=3&title=JapanVietnam%20Economic%20Partnership%20Agreement%20