Having Completed Market Economy in Viet Nam and Russia

Viet Nam’s Trade Ministry and Russian Ministry of Economic Development and Trade will sign a memo on the Russia's World Trade Organization accession in July, announced Viet Nam Trade Ministry on June 28.

At the three-day meeting held on June 25 in Moscow, experts from the two countries discussed and reached agreements in this memo. Viet Nam affirmed the complete support for the joining of Russia into the WTO did not based on unfair conditions.

During the meeting, the two countries agreed that they have had a completed market economy and they also exchanged solutions to problems in exporting rice and aquatic products to Russia in order to have suitable projects to increase bilateral trade turnover.

The Russian WTO Accession project has been in progress since September 2005 and is expected to continue until the end of 2007, when Russia could finally join the organization.

Russia expects WTO membership to promote further its market reform and ensure better transparency as well as provide a secure business environment for trade and investment. Membership will also help Russia diversify its economy, participate in projects to develop future common trade rules and secure its interests. 

By V.L – Translated by Xuan Huong

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