Nation nears WTO deal with Japan

June 13, 2005 | 18:02

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Vietnam has concluded bilateral negotiations on the World Trade Organisation (WTO) accession with Japan, a major landmark in the country’s aspirations to join the world’s largest trade body.

“Bilateral negotiations on the issue of Vietnam joining the WTO have finally reached a basic agreement,” said Hatsuhisa Takashima, press secretary of Japan’s Ministry of
Foreign Affairs.
“We made some compromises on delicate issues which have been the subject of negotiations between the two nations, including the trade of agricultural products, fisheries and raw materials, among others,” said Takashima.
The bilateral negotiations lasted for 10 sessions.
Earlier this month, the two countries reached a consensus on the removal of trade barriers on industrial commodities, an agreement that was brokered during Deputy Minister of Trade Luong Van Tu’s participation in the Asia Pacific

Economic Cooperation (APEC) trade conference.
Vietnam still needs to conclude negotiations with 11 other countries, including the US, China, Canada, Japan, New Zealand and Australia, before it can join the WTO.
The news came last week during a visit to Vietnam by Japanese Minister of Foreign Affairs Nobutaka Machimura.
“Both Vietnamese Prime Minister Phan Van Khai and Foreign Minister Nobutaka Machimura believe that a basic agreement between the two nations on the issue of Vietnamese participation in the WTO will create more momentum for Vietnam’s bilateral negotiations with other countries, including the US and major industrialised countries,” said Takashima.
According to the press secretary, a signing date has not yet been set as the two nations need time to finalise the details of the agreement.

By Mai Anh

vir.com.vn

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