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Pacnet #56A – Vietnam’s Accession to the WTO: The Way Ahead

In Nov. 7, 2006, Vietnam was officially admitted to the World Trade Organization (WTO), becoming its 150th member of the world’s largest trading block after 11 years of negotiations. Vietnam Deputy Premier Pham Gia Khiem led a large high-ranking delegation to the admission ceremony in Geneva. Back home, the Vietnamese media envisioned rather rapid economic development for Vietnam once the country gained entrance to the WTO: there has been much fanfare in the last few weeks and the event has been hailed “a turning point” and even “a sacred moment.” Many in Vietnam talk about “Vietnam taking off” and of it becoming “a new Asian tiger.”