Vietnam became the 150th member of the World Trade Organization (WTO) on January
18 after 11 years of negotiations. It is one of the world's fastest-growing economies,
with average growth of more than 7 percent over the last decade. WTO entry will potentially
increase trade and investment and give greater access to foreign markets. According
to Reuters, Vietnam was the second most populous country still outside the WTO, behind
Russia.Vietnam has been introducing market-oriented economic reforms over 20 years.
In 2006 foreign investment reached a record $10 billion.