WTO likely to approve Vietnam’s entry soon

Hanoi, October 16:

The World Trade Organisation (WTO) is expected to approve Vietnam as its 150th member next month, trade minister Truong Dinh Tuyen was quoted as saying in state media today.

“From November 6-8 the WTO General Council will hold a special session to examine and vote for Vietnam’s membership as a new WTO member,” Tuyen was quoted as saying by the Thanh Nien daily and other newspapers. Vietnam — one of Asia’s fastest growing economies — has campaigned for more than a decade to join the global trade club, hoping access will further boost trade and investment.

Tuyen, who returned to Hanoi from a 14th round of talks in Geneva, said the “negotations are finished,” adding that “the fight was very tense” as Vietnam cleared final hurdles to accession. The WTO’s Vietnam working party will meet again in Geneva on October 25-26 for a final review of the package and a WTO General Council meeting to adopt the accord has been scheduled for November 7.