(VOVworld) – The Russian International News Agency RIA-Novosti has run an article on achievements of several countries, including Vietnam, as WTO member. The article came amid a meeting of the Federal Security Council on Russia’s WTO admission on Wednesday with the highlight given to Vietnam achievements since it enter the WTO in January 2007.

Vietnam has gained achivements since joining the WTO in 2007 (Photo: wto.org)

According to RIA-Novosti, Vietnam has renewed its political, economic, and legal system which ensure the rights of foreign investors thus attract more investment capital to the country. RIA-Novosti cited a story by the Wall Street Journal in 2008 which recognized Vietnam’s GDP growth by 8.5%. The Dow Jones Commodities Service has applauded remarks in Vietnam’s garment and textile industry which is expected to earn 25 billion USD by 2020. Vietnam’s admission to the WTO has brought about higher exports and greater competitiveness in the world market. Vietnam has removed trade protection measures since early 2010 while been more open to imported products. RIA-Novosti stated that Vietnamese people have seen gradual improvement in life with higher income per capital and poverty rate down from 60% in 1992 to 15% in 2008.