~ Le Viêt Nam, aujourd'hui. ~
The Vietnam News

Year :      [2005]      [2004]      [2003]      [2002]      [2001]      [2000]      [1999]      [1998]      [1997]

China, Vietnam conclude talks on market access

BEIJING - Vietnam and China have successfully concluded negotiations on bilateral market access, smoothing the way for Hanoi to enter the World Trade Organisation (WTO), a joint communique said. The agreement came at the conclusion of a four-day visit to China by Vietnamese President Tran Duc Luong, just weeks after Prime Minister Phan Van Khai's historic trip to the United States that also focused on Vietnam's growing economic presence.

Vietnam is hoping to enter the WTO by the end of 2005 and a number of negotiations are ongoing, though talks with China, Vietnam's number two trading partner after the European Union, are key. Hanoi needs access to China's huge markets, analysts say, as well as Beijing's approval of its WTO bid.

"The two sides are satisfied with the development of China-Vietnam trade and economic relations, and agreed to expand the two-way trade volume in a positive and pragmatic spirit to gradually reduce the imbalance in bilateral trade," the communique said. "The two sides have completed the negotiation on bilateral market access concerning Vietnam's entrance into the World Trade Organization and believe the event will help open a new vista for bilateral cooperation especially in trade and economic fields." Vietnamese reports say trade with China, which reached a record 7.2 billion dollars last year, is likely to reach 10 billion dollars by 2007, three years ahead of their target date.

The two countries, historical enemies which fought a brief war in 1979 and only normalised ties in 1991, have gradually been putting behind territorial disputes in order to pursue more friendly relations. In the joint statement, they agreed to further accelerate demarcation work of their land border in order to finish it and sign a new agreement on borderline administration before 2008.

Agence France Presse - July 21, 2005.