After long time of complex and tense negotiation, Vietnam has succeeded in implementing the final steps with the US for WTO entry.
According to Washington Post, Viet Nambeen agreed in principle to be membership in the Word Trade Organization, that will opens a new and growing market for American agricultural goods, services, such as financial services, and manufactured products.
"The road to normalization between the United States and Vietnam is almost complete," Sen. Max Baucus said Sunday. "Today's agreement will further open Vietnam to U.S. products."
Once being member of WTO, it will open up new chances for pushing up socio-economic development progress, finding new markets for export and contacting modern-hi-teach sectors, especially Vietnamese enterprises will further enter world markets.
However, the nation of 84 million now is looking into challenges.
Joining into WTO, Viet Nam market will be almost changed with multi-quality-cheap goods imported. Most noteworthy is that free trade will be harmful for unable enterprises, poor quality goods will be knocked down.
“Joining the WTO will bring up a numberof opportunities for Vietnamese enterprises to further enter world markets and find new markets for export. However there will be a great many challenges to tackle, such as stiffer business competition as we have to lift the tax barriers, end subsidies and open the service market for foreign companies,” said President of Vietnam Chamber of Commerce and Industry, Mr Vu Tien Loc “Laws and mechanism to run the economy, we need to identify the problems with our economy, because it is run differently from other economies in the world.”
Prof Martin Schwarzt of Virginia University, US said “The country should do what more advance developed countries are doing, but not what less developed countries are good at. I want to emphasize that Vietnamese are poor not because that they are lazy. They are very hard working. The problem is in the ineffectiveness of labour and unprofitable work.”
“Now is time to look into opportunities and challenges that arise. VietNamNet collects a range of opinions from readers and experts on both opportunities and challenges.” Quoted from VNN.
Summary from Internet – Minh Chau
