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WTO full membership marks Viet Nam's deep participation in global trade system

   1/23/2007

Ha Noi, 11/01/2007: Foreign Ministry Spokesman Le Dung on Jan. 11 announced that Viet Nam had gained full WTO membership, describing it as an important event in the country's international economic integration, marking its comprehensive participation in the global trade system. On Jan. 11, the WTO organised a ceremony to hand over an official membership card to the Vietnamese delegation, headed by Vietnamese Ambassador Ngo Quang Xuan. The ritual meant the recognition of Viet Nam's representative mission and Ambassador to the WTO. The spokesman noted that from Jan. 11, Viet Nam is engaged to implement all its commitments to join the WTO, as well as the organisation's regulations and common principles; on the other hand, the country are now entitled to full rights and an equal role in its relationship with other WTO members. "WTO accession created great opportunities for Viet Nam to expand markets for its goods and services exports, increase its trade partners, attract more foreign direct investment, and furthermore, all future commercial disputes will be solved following WTO mechanism," the spokesman said. However, Dung warned that WTO accession also brought serious challenges, requiring Viet Nam's economic sectors, especially enterprises, to exert maximum efforts in making use of opportunities and overcoming challenges. Dung promised that as a new member, Viet Nam will work actively to contribute to building a multilateral trade system based on equality and common benefits.

VNA
1/23/2007

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