November 13, 2011

Vietnam, Cambodia, Laos, Myanmar join efforts on market management


HANOI, Nov. 11 -- The first conference on jointly checking and controlling market activities in four countries including Vietnam, Cambodia, Laos and Myanmar opened here on Friday.

The conference was presided over by the Vietnamese Ministry of Industry and Trade (MoIT). During the conference, all representatives from the four countries affirmed the necessity of checking and controlling the markets as well as the need to build a checking system from the central to grassroots level.

The four countries are seeking jointly cooperative agreements to bilaterally and multilaterally check and control the markets effectively.

However, representatives also pointed out shortcomings in checking and controlling process including incomplete legal corridor, limited techniques and poor coordination between relevant agencies. Therefore, cooperation between the regional countries is necessary to make markets healthy.

Addressed at the conference, Nguyen Cam Tu, vice minister of MoIT, stressed that the cooperation between the four countries is aimed at strengthening the trade and economic relationship, especially between the MoIT and other countries' ministries of trade.

During the conference, the Vietnam Market Control Department signed two memorandums of understanding with its counterparts from Laos and Cambodia to exchange information in the field and coordinate in specific programs.

According to Nguyen Hung Dung, head of the Vietnam Market Control Department, this annual conference will be held rotationally between the four countries.

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