Socialist Republic of Vietnam

Speech by Minister of Trade Vu Khoan at the press conference on 28th November 2001 following the ratification of the Vietnam-US Bilateral Trade Agreement by the National Assembly of Vietnam:

"At the request of the State President, on the afternoon of 28th November 2001, the 10th Session of the 10th Tenure of the National Assembly of the Socialist Republic of Vietnam approved the Resolution to ratify the Trade Agreement between the Socialist Republic of Vietnam and the United States of America.

With the approval of the Agreement by the two Houses of the US Congress, the signing it into law by the US President and the ratification by the National Assembly of the Socialist Republic of Vietnam, the two sides have fully completed all necessary legal procedures on ratification. According to Paragraph 1, Article 8, Chapter VII of the Agreement, "this Agreement shall enter into force on the day on which the Parties have exchanged notifications that each has completed the legal procedures necessary for this purpose."

With this event, the relations between the Socialist Republic of Vietnam and the United States of America have come closer to full normalisation.

On its part, Vietnam is willing to develop an equal and mutually beneficial cooperation with the US on the basis of respect for independence, sovereignty and non-interference in each other's internal affairs. If these principles are thoroughly observed, favourable conditions are available for the growth of the bilateral relations and the expansion of the bilateral economic and trade relations, which are in the interests of the two countries' peoples and businesses. This will not only benefit both Vietnam and the US but also help enhance the relations between the US and ASEAN, of which Vietnam is a member, and strengthen APEC cooperation, of which both Vietnam and the US are members. This is also instrumental to the cooperation for development in Southeast Asia, Asia-Pacific and the world at large.

On this occasion, we reiterate our desire to develop equal and mutually beneficial relations with all countries in the world and our determination to actively integrate ourselves in regional and global economies."