US Envoy Optimistic About Trade Normalization with Vietnam
There have been positive signs that the US will normalize trade relations with Vietnam ahead of President George W. Bush’s visit to the country in November. 
US ambassador to Vietnam, Michael Marine, said at a press conference that the full US Senate would resume work next week after a four-week August recess.
They would then consider and vote on the legislation which would facilitate Vietnam’s accession to the World Trade Organization.
Marine said he hoped the process would be completed in September.
But he added without elaborating there would be another opportunity before the Asia Pacific Economic Cooperation (APEC) Summit in November in Hanoi which Bush is expected to attend.
On July 31 the Senate Finance Committee voted 18-0 to grant permanent normal trade relations (PNTR), otherwise known as most-favored nation status, to Vietnam as part of a bilateral agreement signed in May.
The legislation will have to be passed in the full Senate, the finance and taxation committees of the House of Representatives, and the full House of Representatives.
Vietnam's terms for joining the WTO may face opposition from many US textile producers as well as some lawmakers concerned about religious freedom.
However, Marine said he was optimistic and personally saw strong support for granting PNTR to Vietnam.
Vietnam could still become a WTO member this year regardless of the result of the US vote.
In that case, though, both countries would suffer since neither could benefit from WTO regulations.
For instance, American exporters would not benefit from Vietnam’s duty reductions while Vietnamese textile and garment exports to the US would still be limited by quotas.
Therefore, Marine stressed, the US administration supported and had speeded up the process of granting PNTR to Vietnam.
Source: Vietnam Net, Thanh Nien News
