Trade Minister Truong Dinh Tuyen told the committee that the Working Party on Vietnam's accession to the WTO at its 14^th official session in Geneva on October 26 adopted a package of documents relating to Vietnam's accession, paving the way for the country to join the global trade club. He said Vietnam is committed to implementing all WTO agreements and compulsory principles when the country joins the organisation.

According to Mr Tuyen, as Vietnam is an underdeveloped country in the transitional period, the WTO made it clear that Vietnam will have to implement a number of commitments relating to special consumption tax, non-agricultural subsidies and trading rights after a certain period of time.

All members of the committee agreed that Vietnam's WTO accession and implementation of its commitments will deeply affect many aspects of the country's socio-economic life. However, they said the accession is an objective requirement during the country’s Renewal process and a milestone in its international economic integration.

It is expected that the current NA session in Hanoi will consider and approve the protocol on Vietnam's WTO membership. Vietnam will inform the WTO about the ratification. The country will officially become a WTO member 30 days after the WTO receives the news and all its commitments will take effect.