The round of talks, expected to be the final hurdle to accession, would focus on resolving the remaining difficulties between the two sides, the trade minister Truong Dinh Tuyen said.

These included export subsidization and the nature of the market economy in Vietnam, Tuyen said.

According to him, Vietnam's latest round of negotiations with the US in March was “particularly successful” and that the US partner understood and praised Vietnam's negotiation efforts.

"The negotiation gap has narrowed and in the fine atmosphere of the current bilateral ties, the two sides will be able to conclude their negotiations in the coming round," he forecast.

This could be the final round of talks, and also the last opportunity, for Vietnam to wrap up negotiations with the US if the Southeast Asian country wanted to join WTO before the Asia Pacific Economic Cooperation (APEC) summit in November in Hanoi.

Vietnam and the US had agreed that Vietnam needs a transitional period before thoroughly abolishing the export subsidies it currently provided to businesses, Tuyen said.

However, the length of the transitional period would be the issue for further discussion, he added.

Meanwhile, the issue of the nature of Vietnam's market economy had been raised by the US in the previous rounds of talks but it had yet to be officially negotiated, Tuyen said.

The minister cited the case of China, whose economy was not recognized as a market one by some countries, including the US, when it entered the WTO.

He said that China therefore was subject to some specific mechanisms, including tough mechanisms imposed on the textile and garment sector.

Minister Tuyen stressed that Vietnam would not accept the application of any special mechanisms to its textile and garment sector.

As the sector is facing various difficulties, it would fail to compete if tougher mechanisms were imposed, thus affecting the lives of millions labors, Tuyen elaborated.

A source also told Thanh Nien that some other pending issues included the import of Harley Davidson motorbikes, luxury tax on brewage, state monopoly in the telecom sector, private share-holding rate in equitized enterprises and non-agriculture subsidies.

In related news, US Trade Representative Susan C. Schwab will be in Ho Chi Minh City in June for the APEC finance ministers’ meeting.

Source: Thanhnien.com.vn