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Vietnam's accession to WTO

VN’s prospects one year after WTO accession
08/11/2007 18:34:00

One year ago, Việt Nam officially became the 150th member of the World Trade Organization (WTO). The event’s positive effects have helped the country achieve many significant results which reflects a Việt Nam on the way of international economic integration.

According to former Deputy Trade Minister Lương Văn Tự, former Head of Việt Nam’s WTO admission negotiation delegation, after one year being a WTO member, Việt Nam has well realized its accession commitments. The country has effectively made use of foreign investments and boosted its administrative reforms. After joining the WTO, Việt Nam has managed to renew its legal system which is more appropriate to international standards.

Deputy Head of the National Assembly’s Committee of External Affairs Ngô Quang Xuân, former Chief Representative of the Vietnamese delegation to the WTO, stated that, Việt Nam’s achievements are resulted from its accession to the WTO. He went on to say that, most of Vietnamese people, especially farmers, are enjoying bigger benefits because more and more Vietnamese products are exported to other WTO members.

Dr. Lê Đăng Doanh, former Rector of the Central Economic Research Institute, pointed out the wave of foreign investors in Việt Nam after the country was admitted to the world’s biggest trade organization. Investors all believe that Việt Nam will put its commitments into reality right after its admission, said Dr. Doanh.

At a recently-held seminar on the realization of Việt Nam’s investment commitments to the WTO, Mr. Jean Pierre Achouche, Vice Chairman of the European Chamber of Commerce in Việt Nam, was quoted to say that the accession into the WTO has helped Việt Nam raise its position in the world investment map.

Israeli Deputy Foreign Minister Haim Divon also confirmed in a press briefing on November 6 in Hà Nội that, Việt Nam is rapidly advancing in its process of international economic integration.
By Xuân Hồng

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