Vietnam's attempt to enter the World Trade Organization has been held up over how the communist country will implement tariff reductions on certain goods and services, and whether it has amended legislation to fully comply with global commerce rules, officials said Monday according to The Associated Press. Eirik Glenne, the Norwegian ambassador who chairs Vietnam's accession talks, said an agreement permitting the Asian nation to join the WTO would not be finalized in time for this week's meeting of the trade body's general council. That means Hanoi will fail in its long-standing effort to join the WTO before it hosts a meeting of the Asia Pacific Economic Cooperation forum in mid-November, an event U.S. President George W. Bush is expected to attend. Still, a final deal is taking shape and Vietnam could wrap up an agreement in principle in time for the meeting. «For the first time, we have in front of us the complete package of documents representing Vietnam's terms of membership to the WTO,» Glenne said. «Clearly this working party is now very close to completion.» Vietnam and the U.S. finished final bilateral market-access negotiations in May. Trade officials have said, however, that some work remains to be done on translating those deals into detailed commitments, which the country would apply to trade with all 149 WTO members. Minor issues such as the trade in spirits are still outstanding. The working group is also working on completing a multilateral report that includes Vietnam's commitment to make its laws, rules and regulations comply with WTO agreements and to satisfy other members. Glenne said it was still possible to complete an accession deal for Vietnam in time to call an early November meeting of the WTO's general council.
