In the first week of November, Vietnam signed a protocol on its accession to the World Trade Organisation (WTO) in Geneva after more than 11 years of negotiations. In the second week, Asian countries agreed to nominate Vietnam as the only Asian candidate for non-permanent membership of the UN Security Council for the 2008-09 term. In the third week, Vietnam successfully organised the 14^th APEC Economic Leaders’ Meeting, leaving a good impression on international friends. The last week saw the successful organisation of the 10^th session of the 11^th National Assembly to decide on many national important issues.    

Vietnam’s admission to the WTO marked a new step in its process of integrating ever more deeply into the world economy. This was an important socio-political and economic event affirming Vietnam’s role and position in the international arena as well as opening up great opportunities for the country to expand export markets for commodities and services, cooperate with new partners, attract more foreign direct investment, speed up economic restructuring and create a favourable legal basis for settling trade disputes to serve national industrialisation and modernisation.      

However, Vietnam will face numerous challenges. Economic competition will become fiercer, even on a larger scale, to put stronger pressure on enterprises, particularly those which rely on State subsidy. If proper policies and solutions are hard to come by, there will be a high risk of bankruptcy among a segment of businesses, compulsory redundancy and wide division between rich and poor. To be sure, deeper economic integration will force the country to pay more attention to environmental protection, safeguard of national security and preservation of traditional cultural values.

Despite all this, the nomination by Asian countries clearly showed Vietnam’s prominent role and position in the international community and testified to the country's active contributions to international organisations and forums such as the 14^th Non-Aligned Movement (NAM), the 6^th Asia-Europe Meeting (ASEM), the Asia-Pacific Parliamentary Forum, the ASEAN Inter-parliamentary Organisation (AIPO), the Francophone summit and particularly the United Nations.  

The most remarkable event in 2006 and in recent years was Vietnam’s successful organisation of the APEC Year 2006 which culminated in the hosting of the APEC summit week in Hanoi in mid November. The success of the 14^th APEC Economic Leaders’ Meeting showed Vietnam’s potential capability for preparing contents and arranging events to enhance its position in the international arena and its image as vivid as a dynamic, open, hospitable and charming country.