The World Trade Organization (WTO) on Tuesday formally admitted Vietnam as its 150th member.

At a meeting, the WTO's governing General Council formally approved the accession terms for Vietnam, which completed nearly 12 years of entry talks with the Geneva-based body last month.

Vietnam is seen as Asia's best-performing economy after China. With a population of 84 million, it also is the second most populous country behind Russia still outside the WTO.

Vietnam's parliament still needs to approve the WTO accession-related documents and inform the WTO that it has done so. Then 30 days later, Vietnam will become a full new member.

Source: Xinhua