Viet Nam concluded bilateral talks on its entry into the World Trade Organization with Canada on March 22 in Geneva, Switzerland.
Deputy Trade Minister Luong Van Tu, head of the Vietnamese delegation, and Don Stephenson, head of the Canadian delegation at the WTO, signed the agreement at the WTO headquarters in Geneva.
Viet Nam and Canada began their bilateral talks in 2001. After nine negotiation rounds, the two sides reached an agreement on opening their commodity and service markets.
Canada is the first country in North America to conclude WTO talks with Viet Nam. The conclusion is expected to bolster Viet Nam’s bid for WTO membership and strengthen cooperation between the two countries.
Canada is a major trade partner of Viet Nam. Bilateral trade between the two countries reached US$650 million last year. After the WTO Agreement of Textiles and Clothing (ATC) expired in early 2005, Canada removed its quotas on Viet Nam’s garment and fabric exports.