Prime Minister Pham Gia Khiem (right) and World
Trade Organisation (WTO) Director General Pascal
Lamy (L) celebrate after a signing ceremony at
the WTO headquarters in Geneva.
was officially admitted to the World Trade Organisation
(WTO) during a special meeting of the WTO General Council
on November 7 in Geneva.
admission ended Vietnam’s 11-year long negotiation process
in order to join the world's largest trade body and
paved the way for the country to join within 30 days
of its National Assembly ratifying the accord.
Glenne, President of the WTO General Council-cum-Chairman
of the Working Party on the Accession of Vietnam to
the WTO, marked the start of the meeting by summarising
Vietnam's negotiation process and gave final approval
of Vietnam's commitments with the consensus of all 149
WTO members. The council then approved Protocol WT/ACC/VNM/48
on Vietnam's WTO accession.
meeting was followed by the signing of the protocol
on Vietnam's WTO entry between the Vietnamese Trade
Minister Truong Dinh Tuyen and the Director-General
of the WTO, Pascal Lamy. Deputy Prime Minister-cum-Foreign
Minister Pham Gia Khiem, who was also head of the Vietnamese
Government's high-level delegation to the accession
ceremony, witnessed the signing.
the ceremony, Director General Pascal stressed that
Vietnam's accession to the WTO has helped improve the
prestige of the largest trade body. It will not only
benefit Vietnam but also all WTO members, he added.
representatives of WTO members congratulated Vietnam
and expressed their belief that their cooperation with
Vietnam will be further developed.
Prime Minister and Minister of Foreign Affairs Pham
Gia Khiem delivered a speech in which he emphasised
that Vietnam's accession to the WTO is "an event
of great significance, marking an important step for
Vietnam's participation in the global trading system
on an equal footing with all other WTO members."
Deputy PM stated that Vietnam will strictly implement
its commitments and actively contribute to the common
tasks of the WTO.
Deputy PM expressed his strong confidence that with
serious preparation and efforts, together with the kind
cooperation and keen support by other WTO members, "
Vietnam is resolved to be a responsible and reliable
member, effectively contribute to the common process."
membership also helps Vietnam refine its reform process,
creating opportunities for trade expansion, which is
an important tool for economic growth," Trade Minister
Truong Dinh Tuyen said in Geneva
accession poses major challenges to Vietnam's economy.
However, we do believe that with co-operation extended
by the members, Vietnam will make the most of opportunities,"
he added.(VNA, WTO)