Washington WTO Talks Expected to Handle Two Remain Issues with Vietnam

The last round of talks on Vietnam’s bid to join the World Trade Organization (WTO), scheduled for May 8-11 in Washington, is hoped to settle the two remain problems including export subsidizes and market recognition between Vietnam and the US, Trade Minister Truong Dinh Tuyen has announced.

 

“The gap is reducing while the relationship between the two nations is brightening therefore we are expected to conclude the negotiation process after the upcoming meeting,” Tuyen told a press conference on May 3 in Hanoi.

 

Earlier, Vietnam and the US reached an agreement in which Vietnam will have a transition period to eliminate support for the export sector. The upcoming discussion will fix a timetable for Vietnam to get rid of its subsidies.

 

Regarding market recognition, Vietnam wants to be viewed by the US, its biggest foreign market, as a market economy before the country joins the Geneva-based trade club. Otherwise, it will still be imposed quotas on its export goods, including in textile & garment sector.

 

The next round will focus on the issue, Tuyen said.

 

Mid last month, Speaker of the US House of Representatives Dennist Hastert visited Vietnam to discuss the issue, he affirmed that he wants the two sides to conclude their WTO negotiations shortly, and that the United States would grant PNTR status to Vietnam despite human right problems between the two sides.

 

After concluding WTO talk with Mexico last week, Vietnam now only has to negotiate with its last partner the US to obtain the WTO ticket.