The government will resume bilateral trade negotiations with the US, which will take Vietnam a step closer to becoming a member of the World Trade Organisation (WTO).
By the end of this week, Vietnamese deputy Trade minister Luong Van Tu will fly to the American capital city, Washington DC, to carry out talks from October 26 to 28, according to the trade ministry.
“We have a great advantage after concluding talks with the European Union,” said Dr Tran Dinh Thien, an economic specialist at Vietnam’s Central Economic Management Institute. “Now many countries have a good understanding of Vietnam’s situation,” he said.
Other economists also said that concluding negotiations with the US is a practical prospect.
However, a leading negotiator of Vietnam said it was still too soon to confirm anything, as “the EU is the EU, and the US is the US” [referring to the recent trade pact Vietnam signed with the EU during the Asia-European meeting earlier this month] “The negotiating processes between Vietnam and the two sides are very different,” he stressed.
A day before the talks begin, assistant US Trade Representative Dorothy Dwoskin and leading negotiator on a variety of trade policy issues in the WTO, and other high-ranking officials of the US Trade Representatives will hear the opinions of Vietnam’s entry to the WTO from the Vietnam-US Trade Council and the US-Asean Trade Council.
The two agencies represent hundreds of leading businesses in the US
The American Chamber of Commerce (AmCham) in Vietnam recently pledged to support the country’s entry to the WTO.
Vietnam hopes to join the global trade body in 2005.