On July 11, at the Ministry of Trade, Ambassador Kim Eui-ki and Trade Vice-Minister Luong van Tu signed an agreement on commodities and services, concluding the bilateral negotiation on Vietnam admission to WTO. ROK became the second partner, after EU, completing bilateral negotiation with Vietnam. Nine rounds of negotiations were conducted from April 2002 to May 2005.
Vietnam is regarded as all-sided partner of Republic of Korea in the 21st century. It is expected that in December, at the WTO meeting in Hong Kong, Vietnam will become official member of the organisation. ROK Ambassador believed that the agreement will facilitate Vietnam admission to WTO in 2005 in the interests of both Vietnam and his country.