Vietnam, China Continue WTO Negotiations 

Market access for goods and services in Vietnam was the topic of the fourth bilateral negotiation round between the country and China on its bid to the World Trade Organization (WTO) held in Hanoi late last week, according to a senior official of the Vietnamese government.

“Positive signals from the ongoing negotiations with China will pave the way for Vietnam to become a WTO member by this December,” said Nguyen Nhat Tan, deputy head of the WTO section of the Ministry trade’s Multilateral Trade Policy Department.

He said that the two sides have nearly reached an agreement on opening up the services market and reducing tariffs for commodities and considered “sensitive and tough issues” at the negotiations. The Vietnamese delegation to the talks was led by Deputy Trade Minister Luong Van Tu and the Chinese delegation, by Assistant Minister of Commerce Yi Xiaozhun.

According to analysts, once WTO negotiations with China are completed, Vietnam could fast-track other negotiations with strategic partners to reach its target of joining the world’s largest trade body by the end of this year.

During a talk with Vietnam’s Prime Minister Phan Van Khai, which took place after he arrived in Kunming, China, for the second Greater Mekong Sub-region (GMS) Summit on July 4-5, Chinese Premier Wen Jiabao announced that his country fully supported Vietnam to take a seat at the WTO.

So far, Vietnam has conducted bilateral WTO talks with 27 countries but reached final conclusions with only one third of them.

“Three main countries namely the US, Canada and Japan, as well as the European Union (EU), all of which play important roles in the WTO, have promised to support Vietnam’s entry by the end of this year,” Tan said.

Furthermore, the EU has recognized Vietnam as a temporary market economy and both sides reached an agreement last December that gave Vietnam the green light for its WTO bid. Meanwhile, Japan concluded negotiations with Vietnam last month.

In terms of the US and Canada, the historic visit by Prime Minister Phan Van Khai to both countries marked a milestone in building active support in the two regions for Vietnam’s WTO accession by the end of this year.

“It is expected that agreement with the US will be finalized at the negotiations to be held this month,” Tan said, adding that Vietnam’s entry to the WTO would then be approved at the WTO ministerial-level meetings to be held in Hong Kong, December 13-18.

According to international analysts, Vietnam’s determination to become a WTO member has been highly appreciated by other nations and the country has gradually conducted the necessary legal framework adjustment required to comply with its WTO commitments.

Ta Thi Thu, head of the Development and Research Board of the Development strategy Institute, said the amendments to 262 legal papers, along with the restructuring of state-owned enterprises and the liberalization of the financial and banking system, “are clear evidence of Vietnam’s commitment to enter the WTO”.

“In particular, the Nation Assembly set a record this year of approving 25 laws and ordinances aimed at turning Vietnam’s commitments to the WTO into reality,” she said.

After ongoing adjustments, the legal framework for the effective development of the capital, labor and real estate markets, as well as technology transfer, will be ready, she said.

VIR, VNA