The 73rd country to recognize Vietnam as a market economy.

On August 5th, the Ministry of Industry and Trade announced that, with the approval of the President of Costa Rica, Mr. Rodrigo Chaves, the Minister of Foreign Trade of Costa Rica, Manuel Tovar, personally informed and handed over the official letter regarding Costa Rica's recognition of Vietnam as a market economy at the Ministry of Industry and Trade headquarters.

Thus, Costa Rica became the 73rd country to recognize Vietnam's market economy status.

Costa Rica is a member of the World Trade Organization (WTO) and a member of the Organization for Economic Cooperation and Development (OECD - an organization comprising 38 of the world's most developed market economies).

Costa Rican law includes provisions for investigating and applying trade safeguard measures. As of December 31, 2023, according to WTO statistics, 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.

The Costa Rican Minister of Foreign Trade's handover of a diplomatic note recognizing Vietnam as a market economy in anti-dumping and anti-subsidy investigations is a positive step, especially as we are requesting recognition of Vietnam's market economy status from several trading partners.

During the meeting, Minister Nguyen Hong Dien welcomed Costa Rica's official recognition of Vietnam as a market economy in anti-dumping and anti-subsidy investigations.

Costa Rica's recognition of Vietnam as a market economy accurately reflects the achievements Vietnam has made in its national development and integration into the global economy, and will contribute to promoting the development of bilateral economic and trade relations between the two countries.