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Regulating supply and demand to stabilize essential commodity market of Viet Nam
14/12/2012 10:23' Send Print

For Viet Nam - a member of the World Trade Organization (WTO) - in-depth and expanded international integration, regulation of commodity market is permissible in the following concrete context:
- Assistance to difficult region in transforming economic structure, vulnerable groups, food and energy security.
- Part of the Vietnamese population has low per capital income, especially in industrial, rural, mountainous and remote areas which need time to stabilize and develop.
- Viet Nam can take measures relating to balance of payment to regulate supply and demand to stabilize commodity market in alignment with articles on balance of payment of the General Agreement on Tariffs and Trade (GATT) in 1994.
- Viet Nam will be heavily affected by climate change. So to ensure social security, it is necessary of take proactive measures to regulate the supply and demand relations of the essential commodity market.
To continue bringing into play the active self-regulation of the market and to live up to expectations while considering conditions relating to policies and mechanism to regulate supply and demand to stabilize the market, following issues must be taken into account:
First, choose measures and policies appropriate to concrete conditions of market in certain stages of economic development.
Second, regulation of supply and demand uses not only trade policies but also other relating policies.
Third, policies and mechanism on regulation of supply and demand to stabilize market should be based on development of the socialist-oriented market economy.
Fourth, the State should intervene and respond in time to regulate and stabilize the market when supply falls and demand increases and vice versa.
Fifth, it is necessary to prepare resources to enable supply-demand regulation of commodity in the market./.

Ph.D Trinh Thi Thanh ThuyMinistry of Industry and Commerce