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Submitted by ctv_en_1 on Tue, 10/24/2006 - 19:35
The US Associated Press (AP) said Vietnam is Asia’s best performing economy after China. The Asian Development Bank (ADB) last month projected that Vietnam’s economy would grow by 7.8 percent this year.

The AP quoted a draft report by the World Trade Organisation (WTO) as saying that Vietnam has succeeded in introducing the reforms necessary for it to join the WTO and become the world body’s 150th member.

The 263-page report of the Working Party (WP) on Vietnam’s admission to the WTO concluded that Vietnam should be invited to accede to the Marrakech Agreement establishing the WTO.

The report, dated October 19, will be addressed at a meeting later this week. The WP expected to recommend the WTO’s 149 members call a November meeting to formally invite Vietnam to join.

Ambassador Ngo Quang Xuan, head of the Vietnamese delegation to the United Nations and international organisations said the informal and formal meetings of the WP on Vietnam’s admission to the WTO will be held on October 25 and October 26, respectively, in accordance with the announcement of the WP chairman cum WTO General Assembly chairman.

Ambassador Ngo Quang Xuan stressed that at the formal meeting on October 26, the WTO General Assembly will declare the end of the negotiation process for Vietnam’s entry to the WTO by approving all Vietnam’s accession documents and commitments before Vietnam becomes the 150th member of the world’s largest trade body in November.

Joining the WTO is one of the topics which capture great attention from Vietnamese National Assembly deputies. They said that the most important thing Vietnam should do after joining the WTO is to master and follow WTO rules.

NA Deputy Dang Nhu Loi from southern Ca Mau province said “playing” in the WTO “playground” is not just the State’s affair, but it requires awareness among each enterprise and people. Vietnam has met legal requirements from the international community, but the important thing is how to practice them. Understanding WTO rules is not enough, how to play by them is more necessary, Deputy Loi said.

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