Viet Nam’s Accession to be a Crucial Help to WTO

The Vietnamese negotiation delegation at a round of negotiation in Geneva.

Viet Nam completed its final round of negotiations to join the World Trade Organization (WTO) on Thursday, said many big news agencies around the world yesterday.

"The government of Vietnam has done admirable work in responding promptly and constructively to members' requests and in putting into place WTO-consistent legislation," the US-based AP quoted Eirik Glenne, the Norwegian ambassador who chaired the working party, as saying.

The US press agency has also quoted US diplomat William Tagliani as saying Viet Nam’s imminent accession to the WTO is a crucial supplement to this organization.

The annual trading turnover between US and Viet Nam reached about US$8 billion in the past 5 years, a 400 percent increase.

Meanwhile, an article by reporter Frances William of the UK-based Financial Times News has hailed Viet Nam’s concerted efforts to integrate international economies.

According to the reporter, Viet Nam’s economy has grown at a fast rate since its implementation of economic liberalization policies in early of 1990, and now it becomes one of the fastest growing economies in Asia.

In addition, Bill Hayton journalist of the BBC News said that Viet Nam will be more attractive to foreign companies when joining in the WTO, so it will have more opportunities to keep its economy shooting up.

Mr. Le Dung, Spokesman for the Ministry of Foreign Affairs

“We are very happy as all documents on Viet Nam’s accession to the WTO were approved at multilateral negotiations in Geneva on October 26, officially marking the country's completion of its negotiation process for becoming a member of the WTO” said Mr.  Le Dung, Spokesman for the Ministry of Foreign Affairs today.

“Conceivably, this is the result of concerted efforts made by the Government and relevant ministries and agencies, as well as the Vietnamese negotiation delegation, demonstrating Viet Nam’s determination to join in the regional and international economies”

“Viet Nam also highly appreciates the support of the Working Party on Vietnam's Accession to the WTO, leaders and experts of the WTO Secretariat, Chairman of the Working Party-Ambassador Eirik Glenne for Vietnam during the process of negotiation” added the spokesman.

“To prepare for the accession, Viet Nam has implemented wide and deep reforms in line with international standards. On the horizon, Viet Nam will continue to actively integrate international economies, make use of benefits brought by WTO membership rules and effectively solve the challenges of the process of global economic integration”

Concerning about APEC Summit 2006 held in Ha Noi from 18 to 19 November, Mr. Le Dung said “Accession to the WTO and hosting the APEC Summit 2006 are two very importantly political and foreign affair events of the government, demonstrating Viet Nam’s active policies to integrate the international economy. In addition, being WTO’s  member will pave the way for Viet Nam to effectively remove trade barriers which is one of the most important targets at this year’s APEC Summit”. 

Reported by staff writers - Translated by Hoang Uy

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