Trade and Circular Economy in Vietnam
Author(s)
Thi Thu Quynh Do , Thi Dung Nguyen , Phuong Linh Nguyen ,
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Abstract
This study aims to determine whether that ideal circular trade is facing any restrictions and the research results indicate that these trade flows are indeed being blocked by some barriers namely import bans (e.g. China’s National Sword Policy & Basel Convention) by “waste” importing countries including Vietnam. Based on a review of the literature on theories of circular economy and trade policy, it is revealed that such barriers are resulted from the lack of international cooperation for agreed common standards and regulations. Legal review also presents with Vietnam’s existing laws regulating trade in waste and scrap and the restrictions in place. On that basis, it is recommended that Vietnam should promote its domestic circular economy, and then engage in collaboration through dialogues, trade agreements, and missions to lift unnecessary trade barriers to circular goods & services, and participate in the development of a harmonized system of standards. Further research is needed to identify how circular economy could be integrated into trade policy and trade agreements.
Keywords
Circular economy, international trade, Vietnam
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