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Submitted by ctv_en_4 on Fri, 05/05/2006 - 09:00
A new round of bilateral negotiations between Vietnam and the US on the former's entry into the World Trade Organisation (WTO) is scheduled for May 8-11 in Washington, said Trade Minister Truong Dinh Tuyen.

Negotiations will focus on resolving the remaining difficulties between the two sides, including applying export subsidisation and considering the nature of the market economy in Vietnam, Mr Tuyen said.

Regarding export subsidies, the minister said, the two countries had agreed that Vietnam needs a transitional period before thoroughly abolishing the export subsidies it currently provides to businesses. However, the length of the transitional period will be the issue for further discussion, he added.

According to the minister, the issue of the nature of Vietnam's market economy was raised by the US in the previous rounds of talks but it has yet to be officially negotiated.

The minister cited the case of China, whose economy was not recognised as a market one by some countries, including the US, when it entered the WTO. He said that China therefore was subject to some specific mechanisms, including tough mechanisms imposed on the textile and garment sector.

Minister Tuyen reaffirmed Vietnam's viewpoint that the country will not accept the application of any special mechanisms to its textile and garment sector. He stressed that as the sector is facing various difficulties, it will fail to compete if tougher mechanisms are imposed, thus affecting the lives of millions of workhands in the sector.

The Minister also revealed that Vietnam's latest round of negotiations with the US was very successful and that the US partner praised Vietnam's negotiation efforts.

"The negotiation gap has narrowed and in the fine development of bilateral ties, the two sides will be able to conclude their negotiations in the coming round," he forecast.

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