The Vietnam mission to the United Nations, WTO and other international organisations held a Vietnam business forum in Geneva on Dec. 3, right after the 7th WTO Ministerial Meeting.

The forum, the first of its kind in Switzerland, saw about 100 senior officials from Swiss ministries of industry, trade, finance and foreign affairs, the WTO, the World Economic Forum (WEF) and other countries’ missions in Geneva, as well as Swiss businessmen taking part.

Vietnam’s Trade Minister Vu Huy Hoang, who attended the WTO Meeting from Nov. 30-Dec.2, briefed the attendees of Vietnam’s economic and trade situation, its commitments to the WTO and means of implementation, policies and solutions to ensure its rapid and strong economic development.

Minister Hoang said Vietnam’s entry into the WTO has contributed to its achievements in economy and trade. He noted the gains the country made in 2007, one year after its WTO integration, including increases of 8.5 percent in the GDP, 3.4 percent in agriculture, 11 percent in industrial output and 8.5 percent in services.

Despite the global economic crisis, Vietnam still expects to obtain a growth rate of between 5-6 percent this year, Hoang said, adding that this is not bad as compared with other regional economies.

Opening the door into the WTO, Vietnam’s exports recorded remarkable growth and the country’s products are now available in almost all major markets in the world, such as the US, the EU, Japan and China. Asia now is Vietnam’s largest trade partner, followed by the US and the EU.

Foreign direct investment (FDI) flow to Vietnam in 2007 doubled the 2006 record of 9.2 billion USD and surged to 64 billion USD in 2008. In the first 11 months of this year, despite the global economic recession, Vietnam has attracted nearly 20 billion USD--higher than that for the whole 2007.

Minister Hoang affirmed that Vietnam will further improve its investment climate and provide favourable conditions for investors in Vietnam.

The attendees highly valued the economic and trade achievements Vietnam has made since its entry into the WTO, especially in the context of the global economic crisis./.