Sustainable Trade in Vietnam
Published 22 June 2016
The Hinrich Foundation was pleased to sponsor a timely and informative workshop convened by the Mansfield Foundation, entitled “The Rule of Law: Vietnam and the TPP”.
The Hinrich Foundation was pleased to sponsor a timely and informative workshop convened by the Mansfield Foundation, entitled “The Rule of Law: Vietnam and the TPP”. The event was held in Hanoi, Vietnam on June 8th and 9th, 2016, in partnership with the University of Economics and Business-Vietnam National University and Hong Kong University (HKU).
The program comprised two days of private, interactive workshop sessions addressing legal reform in Vietnam in the context of the Trans-Pacific Partnership (TPP) and Vietnam’s expanding foreign trade.
Hinrich Foundation Research Fellow, Stephen Olson provided a presentation on “Sustainable Trade in Vietnam: Lessons from the Hinrich Foundation Sustainable Trade Index”. Mr. Olson discussed Vietnam’s performance on the just-released Hinrich Foundation Sustainable Trade Index (STI), which ranks countries and economies across the 3 pillars of sustainability (economic, social, and environmental). Vietnam achieved a very respectable 11th place ranking, reflecting its export diversity, its strong demographics, and its success in attracting FDI. Mr. Olson also discussed the ways in which the TPP would further strengthen Vietnam’s sustainable trade and reform agenda.
The event was covered by Hanoi TV on 11th June, 2016.
“With support from the Governments of Vietnam and the United States, the TPP workshop was organized at the Vietnam National University with the attendance of 25 senior foreign policy and trade experts from Vietnam, the U.S. and Hong Kong.
The workshop addressed the road ahead for implementation of TPP legal obligations in Vietnam. The experts addressed interpretation of international law, national policy ramifications of trade law implementation, and the robustness of contract law as a basis for sustained foreign trade growth.
The workshop also discussed about Sustainable Trade Index, which represented by Steven Olson, a research fellow of Hinrich Foundation. This index ranks 19 countries in Asia and the US across 3 pillars of trade sustainability: economic (“profit”), social (“people”) and environmental (“planet”).
The interesting message of the Index is that countries which fall short on the environmental and social pillars will be unable to achieve sustainable trade in long term, become less potential to attract Foreign Direct Investment.”