Vietnam Officially Wraps up WTO talks with Brazil
Vietnam and Brazil last week signed an agreement to conclude negotiations on the formers admission to join the World Trade Organization (WTO) in Geneva, Switzerland.
The signatories were Ambassador Ngo Quang Xuan, chief of the Vietnamese mission to the United Nations and international organizations in Geneva and the chief of the Brazilian mission to the WTO.
To date, Vietnam has concluded bilateral negotiations on its bid with nine Latin American nations including Argentina, Chile, Cuba, Colombia, El Salvador, Paraguay and Uruguay and Brazil, as well as Canada.
Brazil is a leading industrial country in Latin America, with revenue sourced from the industrial sector accounting for up to 36 per cent of total GDP.
Brazil’s exports focus on essential products such as transport equipment, iron ore, beans, footwear, coffee and automobiles.
Vietnam established diplomatic relation with Brazil in May 1989.
The two countries have signed agreements on political exchange in October 1995, culture cooperation in October 2003.
Vietnam and Brazil increased their trade turnover to US$53.35 million in the first nine months last year from US$47.12 million in 2003.
VoV
Vietnamese
