Socialist Republic of Vietnam

US lawmakers on June 13 introduced bills for discussion and approval by the Senate and House of Representatives on Vietnam - US permanent normal trade relations (PNTR) status and pave the way for the country to join the World Trade Organization (WTO).

Speaking at a press conference at the Capitol Building, United States Trade Representative Susan Schwab lauded the introduction of legislation in Congress to end Jackson-Vanik trade restrictions and pave the way for PNTR with Vietnam.

"I am delighted by the introduction of PNTR legislation by a large bipartisan group of lawmakers from both the House and the Senate," she said.

Congressmen who co-sponsored the bills, said that the bills will be introduced to the House Finance and Tariff Committees and the Senate Finance Committee. If approved, the bills will be submitted for discussion and approval at both Houses of the Congress.

Congressmen and leaders of corporations belonging to the US-Vietnam WTO Coalition expressed their support for the approval of PNTR for Vietnam and said that this move will help further promote relations between the two countries in general and trade relations in particular.

In his remark, Vietnamese Ambassador to the US Nguyen Tam Chien hailed the introduction of the bills as a determination to strengthen the  friendship and cooperation between Vietnam and the US "Today's event further demonstrates our common determination to move the Vietnam - US friendship and cooperation forward," said Ambassador Chien. "We begin the last step in the normalization of relations between our two countries". The Ambassador also extended his appreciation to members of U.S. Congress, U.S. Government, businesses and friends for their long-standing support and dedication for the normalization process.

Source: VNA

USTR Schwab Welcomes Congressional Action to Increase Trade with Vietnam
06/13/2006

Washington – United States Trade Representative Susan Schwab today lauded the introduction of legislation in Congress to terminate application of Jackson-Vanik trade restrictions and pave the way for Permanent Normal Trade Relations (PNTR) with Vietnam.

Following the conclusion of a bilateral market access agreement between the United States and Vietnam last month, passage of PNTR legislation is another step toward Vietnam’s accession to the World Trade Organization (WTO). After the introduction of the bills in the House and Senate today, Ambassador Schwab stated:

"I am delighted by today’s introduction of PNTR legislation by a large bipartisan group of lawmakers from both the House and the Senate. Last month we concluded a strong bilateral trade agreement with Vietnam that will open its fast growing market to US farmers, workers and service providers. It also will promote continued economic and political reform within Vietnam and continue the normalization of US – Vietnam relations that has been underway for almost two decades. But we need passage of PNTR to realize these opportunities."

BACKGROUND:

Today’s PNTR legislation was co-sponsored in the Senate by Senators Max Baucus (D-MT), Gordon Smith (R-OR), Tom Carper (D-DE), Chuck Hagel (R-NE), John Kerry (D-MA), Richard Lugar (R-IN), John McCain (R-AZ) and Lisa Murkowski (R-AK). In the House the co-sponsors are Representatives Jim Ramstad (R-MN), Mike Thompson (D-CA), Judy Biggert (R-IL), Earl Blumenauer (D-OR), Kevin Brady (R-TX), Leonard Boswell (D-IA), Dennis Cardoza (D-CA), Ed Case (D-HI), Robert "Bud" Cramer (D-AL), Joseph Crowley (D-NY), Henry Cuellar (D-TX), Artur Davis (D-AL), Norman Dicks (D-WA), David Dreier (R-CA), Rahm Emanuel (D-IL), Anna Eshoo (D-CA), Lane Evans (D-IL), Wally Herger (R-CA), Ruben Hinojosa (D-TX), William Jefferson (D-LA), Eddie Bernice Johnson (D-TX), Nancy Johnson (R-CT), John Kline (R-MN), Jim Kolbe (R-AZ), Jim Leach (R-IA), Ron Lewis (R-KY), Jim McDermott (D-MA), Carolyn Maloney (D-NY), Jim Matheson (D-UT), Jim McCrery (R-LA), Gregory Meeks (D-NY), Jim Moran (D-VA), Paul Ryan (R-WI), Jose Serrano (D-NY), Ike Skelton (D-MO), Adam Smith (D-WA), Ellen Tauscher (D-CA) and Jerry Weller (R-IL).

PNTR is necessary for the United States to capture the benefits of Vietnam’s WTO accession commitments. A description of the recently concluded bilateral market access agreement can be found at www.ustr.gov.

Source: USTR