tant boost
to the economy and should help to ensure the continuation of
liberalizing reforms. Among other benefits, accession will allow
Vietnam to take advantage of the phase out of the Agreement on
Textiles and Clothing, which eliminated quotas on textiles and
clothing for WTO partners on 1 January 2005. Agriculture's share of
economic output has continued to shrink, from about 25% in 2000 to
20% in 2006. Deep poverty, defined as a percent of the population
living under $1 per day, has declined significantly and is now
smaller than that of China, India, and the Philippines. Vietnam is
working to promote job creation to keep up with the country's high
population growth rate. However, high levels of inflation have
prompted Vietnamese authorities to tighten monetary and fiscal
policies. Hanoi is targeting an economic growth rate between 7.5 and
8% over the next five years.

Virgin Islands
Tourism is the primary economic activity, accounting
for 80% of GDP and employment. The islands hosted 2.6 million
visitors in 2005. The manufacturing sector consists of petroleum
refining, textiles, electronics, pharmaceuticals, and watch
assembly. One of the world's largest petroleum refineries is at
Saint Croix. The agricultural sector is small, with most food being
imported. International business and financial services are small
but growing components of the economy. The islands are vulnerable to
substantial damage from storms. The government is working to improve
fiscal discipline, to support construction projects in the private
sector, to expand tourist facilities, to reduce crime, and to
protect the environment.

Wake Island
Economic activity is limited to providing services to
military personnel and contractors located on the island. All food
and manufactured goods must be imported.

Wallis and Futuna
The economy is limited to traditional subsistence
agriculture, with about 80% of labor force earnings from agriculture
(coconuts and vegetables), livestock (mostly pigs), and fishing.
About 4% of the population is employed in government. Revenues come
from French Government subsidies, licensing of fishing rights to
Japan and South Korea, import taxes, and remittances from expatriate
workers in New Caledonia.

West Bank
The West Bank - the larger of the two areas under the
Palestinian Authority (PA) - has experienced a general decline in
economi