Vietnam Could Enter WTO Next Year
Vietnam’s government said it might be able to join the World Trade Organization in 2005, after making what it called a breakthrough offer this week at talks in Switzerland.
Vietnam and the working party on its accession to the WTO held their first talks since December this week in Geneva. The Southeast Asian nation offered a bigger cut in average import tariffs and the elimination of agricultural export subsidies in its latest offer, according to a summary of the talks.
The 2005 date is significant for Vietnam because the country will be subject to quotas on its garment shipments -- its No. 2 export -- until it joins the global trading club. The quota system for WTO members will end next year.
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