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Sharing experiences in honouring WTO commitments
The Ministry of Foreign Affairs in coordination with the German Hanns Seidel Foundation held a seminar in Hanoi on July 7 to share experiences in joining the World Trade Organisation (WTO) and implementing the WTO commitments.
The seminar attracted Government officials, scholars and businesses from Cambodia, Laos and Vietnam and representatives of international organisations in Hanoi.
At the seminar, deputy Minister of Foreign Affairs Dao Viet Trung said that the seminar provides a good chance for the three countries to share experiences in tackling issues related to negotiations for WTO entry as well as forecasting and coping with complicated developments in the regional and global economies.
Mr Trung said that joining the WTO has opened up many opportunities for Vietnam to promote socio-economic development. By accelerating socio-economic reforms and fulfilling WTO commitments as well as other international economic commitments Vietnam made impressive achievements in 2007 with GDP reaching 8.6 percent and FDI attraction hitting a record high of US$20.3 billion. However, Vietnam is still faces difficulties managing the macro-economy, including controlling inflation and reducing the high trade deficit. To overcome these difficulties, Vietnam is implementing both short-term and long-term solutions to maintain sustainable growth.
Hans Zehetmair, chairman of Hanns Seidel Foundation said that in 2007, just one and a half year after Vietnam joined the WTO, the country successfully achieved a GDP growth of 8.6 percent, raised the inflow of foreign investment to as much as that the previous five years and increased the total export value by 20 percent. These achievements have helped the country to improve its capacity to cope with new challenges such as the high consumer prize index and runaway inflation. Mr Seidel said that the Government’s interference, especially in rural and agricultural development, has played a decisive role in the country’s post WTO success.
Participants focussed their discussions on issues related to international economic development and integration and new trends on the three themes of the seminar which are “Globalisation and world economy: current trend and impacts on Cambodia, Laos and Vietnam, experiences in conducting negotiations for WTO entry and implementing WTO commitments”.
As new members of the WTO, Cambodia and Vietnam shared experiences with Laos in conducting negotiations for WTO entry. The three countries also agreed to strengthen solidarity and boost co-operation for sustainable development.
VOV
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