Vietnam Ready for Next Negotiation Rounds on WTO-Entry

Vietnamese negotiators have been working hard on preparations and are now ready for the next two rounds of multilateral talks for the country's accession to the World Trade Organization (WTO) that is slated to take place within this month, state media reported.

 

These rounds of talks are seen extremely important and decisive steps for Vietnam as the results of which will finally decide whether Vietnam gets the WTO ticket before the APEC Economic Leaders’ Meeting in November or not, domestic analysts and experts have said.

 

If the upcoming 13th round of multilateral negotiations on October 9 goes smoothly, Vietnam and its partners will hold another round of talks on October 25 to finalize procedures for Vietnam's WTO entry, they noted.

 

The WTO General Assembly will then hold a meeting in early November, during which it will screen documents submitted by the WTO Secretariat relating to the admission of Vietnam to the organization. Once these documents are approved, Vietnam will basically complete all its negotiations prior to the APEC Economic Leaders' Meeting, and meet the requirements for becoming a WTO member.

 

Differences now only exist in negotiations with the US, the European Union and Australia, Trade Minister Truong Dinh Tuyen said, adding Vietnam will not accept unreasonable demands put forth by partners in negotiations and if necessary, it can reschedule the deadline for joining the WTO until early 2007.

 

Sean Spicer, a spokesman for the US Trade Representative's office previously said Hanoi’s hope to join the global trade body by the time President George W. Bush arrives in Hanoi in November for annual APEC summit meetings is unlikely and infeasible due to many unsolved issues.

 

“It’ll happen when all the issues are resolved. But the calendar does not trump the substance,” Sean Spicer said, adding Vietnam’s entry would open up one of the fastest-growing economies in Southeast Asia to more foreign trade and investment, and close the last chapter in the normalization of relations between Vietnam and the United States.

 

The US Congress recessed last week without voting on the agreement, which will establish “permanent normal trade relations” (PNTR) with Vietnam in exchange for that country opening its market to more U.S. farm products, manufactured goods and services such as banking and insurance Sean Spicer added, noting House and Senate leaders have said they plan to bring up the agreement in a “lame duck” session after November 7 congressional elections.

 

Regarding granting PNTR for Vietnam, the US’s two textile-state senators, Sens. Elizabeth Dole, R-N.C., and Lindsey O. Graham, R-S.C., have dropped their opposition to legislation granting Vietnam’s trade bill in exchange for a commitment that the US government will use its anti-dumping trade laws to protect the interests of US manufacturers.

 

The senators had placed a hold on Senate consideration of the legislation in an effort to ensure that textile manufacturers would not be harmed when quotas are removed from Vietnamese imports as a result of PNTR.