According to Mr Tu, in order to finalise Vietnam’s WTO admission process, two issues need to be resolved. First, it is essential to conclude negotiations with all partners. The conclusion of bilateral negotiations with the US, the last WTO partner, is of great significance to Vietnam’s WTO entry process. Second, completing bilateral negotiations with the US will open up the possibility of lobbying for the US Congress to grant permanent normal trade relations (PNTR) status for Vietnam. In addition, Vietnam will have to conduct multi-lateral negotiations and finalise discussions on reports to the working board, which will make it possible for Vietnam to join the organisation.

For a long time, the National Committee for International Economic Integration has introduced WTO-related agreements to businesses in a bid to help them take advantage of opportunities and challenges pertaining to the opening up of commodity and service market.

In order to do that, it is imperative to release WTO-related information on the Internet, organise seminars to introduce WTO commitments to businesses and disseminate relevant information through the mass media.

Deputy Minister Tu said the WTO negotiations are just an initial step. It is essential to implement the results of the negotiations, focusing on two key issues. First, the negotiations aim to create a global commodity and service market for Vietnamese enterprises. Second, the negotiations will provide a good business environment to attract more foreign investors to Vietnam. To make use of the two issues, enterprises have to boost goods production and penetrate markets committed to opening up for Vietnam. Businesses should also quickly secure a firm foothold in the domestic market, particularly when Vietnam starts to open up its markets for foreign partners flowing commitments made during the WTO negotiations. Domestic enterprises, as well as ministries, agencies and localities should take opportunities to invest in the country so as to further contribute to national economic growth. Businesses have to prepare a development strategy to sell products in both domestic and international markets.

To achieve the set targets, Mr Tu said it is necessary to upgrade facilities, increase productivity, renew business operations and management methods, and raise competitiveness, while developing professional staff and skilled workers in order to quickly access markets and generate profits for enterprises and boost national economic development.