Conditions are favourable for Vietnam in this multilateral round as the country has undergone a 20-year process of renovation and has come closer to institutions guiding the market economy, the Minister said.

The National Assembly in 2005 adopted a series of important laws, such as the Enterprise Law, the Common Investment Law, the Trade Law (revised), the Law on Intellectual Property Rights, and the Competition Law, to create an important legal foundation for the country to implement its commitments at the previous multilateral negotiations, Mr Tuyen stressed.

He affirmed that WTO accession would facilitate reforms in the country, thus creating a new environment for business and investment activities while making better use of internal resources and luring more foreign investment.

Vietnam will make public the commitments it made during negotiations with the US immediately after the two countries officially sign an agreement on Vietnam's WTO entry, said Minister Tuyen.