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Today, 11th January, 2007, Vietnam has officially gained the full membership of the World Trade Organization (WTO). This is a very important event in the process of international economic integration of Vietnam, marking the comprehensive deep and broad participation of Vietnam in the global trade system. From this moment, Vietnam is engaged to implement all its commitments to join the WTO as well as the organization’s regulations and common principles; at the same time, Vietnam is now entitled to full rights and an equal role in its relationship with other WTO members. WTO accession creates great opportunities for Vietnam to expand markets for its goods and services exports, increase its trade partners, attract more foreign direct investment and furthermore, all potential trade disputes will be solved under the WTO mechanism. Besides WTO’s membership also brings serious challenges, requiring Vietnamese economic sectors and branches, especially enterprises to exert maximun efforts in making use of opportunities and overcoming challenges. As a new member, Vietnam will work effectively to make active contribution to building a multilateral trade system based on fairness, equality and mutual benefits. On 11th January, 2007, the WTO organized a ceremony to hand over an official membership card to the Vietnamese delegation, headed by Vietnamese Ambassador Ngo Quang Xuan. This ritual meant the recognition of the status of Vietnam’s Representative Mission and Ambassador to the WTO. (CLICK HERE TO GET THE SPECIAL BULLETIN OF MORE VIETNAM'S ECONOMIC AND INVESTMENT UPDATE JANUARY 2007) . |
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