New round of talks between Viet Nam and its last bilateral partner, the US, for the former’s entry into the World Trade Organization (WTO) is scheduled to take place on May 9-11 in Washington, Deputy Chief of the Nation’s Committee Secretariat for International Economic Cooperation Nguyen Van Son said on May 4.
|Issues of the textile and garment product export have yet to be solved between the two countries.|
Regarding export subsidies, at the previous meetings and talks, the two countries agreed that Viet Nam needs a transitional period before thoroughly abolishing the export subsidies it currently provides to businesses. However, the length of the transitional period will be the issue for further discussion.
Issues of the textile and garment product export have yet to be solved. Vietnamese Deputy Trade Minister Luong Van Tu, Head of the Vietnamese Government’s negotiation mission, affirmed Viet Nam’s viewpoint that the country will not accept the application of a special mechanisms to its textile and garment sector because it is one of sectors with no competitive advantage.
Viet Nam’s textile and garment exporters to the US have just reached over US$2 billion per year, making up a very small proportion to the US’s textile and garment imports of about US$70 billion per year.