Signatories were Deputy Trade Minister and head of Vietnam’s WTO negotiating delegation Luong Van Tu and Ambassador and head of the Canadian Mission to the WTO Don Stephenson.

Vietnam and Canada began bilateral WTO negotiations in 2001 and after nine rounds of negotiations at the WTO headquarters and Ottawa, the two sides have reached an agreement on the opening of commodity and services markets.

Canada is the first North American country to conclude bilateral WTO negotiations with Vietnam. It is one of Vietnam’s key trade partners, with two-way trade between the two countries last year reaching US$650 million. The country lifted quotas for Vietnamese garment exports in 2005 although Vietnam was not a WTO member.

Experts said that the conclusion of the agreement with Canada will help boost economic and trade co-operation between the two countries and facilitate Vietnam’s entry to the WTO.