PM wants US to approve PNTR with Vietnam

While receiving a delegation of the Vietnam-US Advisory Council on Enhancement of Competitiveness in Hanoi on November 7, Mr Dung said Vietnam's accession to the World Trade Organisation has demonstrated the country's great efforts and achievements in implementing the Doi Moi (Renewal) process over the past 20 years with strong support from international friends, including US entrepreneurs.

The Prime Minister said in the 2006-2010 period, Vietnam will concritise policies to soon escape the underdeveloped nation status, consistently embark on the market economy institution and accelerate the international economic integration process. In addition, he said, Vietnam will continue to develop the multi-sectoral economy, mobilise all resources for social development, implement social progress and equality, eradicate hunger and poverty and accelerate administrative reform while implementing the external policy of independence, self-reliance and multilateralisation and diversification of relations.  

The PM praised the council for its recommendations and proposals in the areas of infrastructure and energy development, information technology and education, financial and capital market and services. These recommendations and proposals were in line with Vietnam's reform policies, the PM said.

Ernest Bower, President of the council and founder of BrooksBowerAsia Co., informed the PM of the results of the council's second meeting during which the Vietnamese side was provided with information and assistance to access the US market and avoid dumping lawsuits.

He said US businesses have sent a letter to the Senate and the House of Representatives to ask for an early approval of PNTR with Vietnam.

US businesses have so far poured US$1 billion into Vietnam and will continue to invest additional US$4 billion in infrastructure development, energy, IT, financial, capital market and trade areas.

*** The US National Corn Growers Association (NCGA) and other agricultural groups are urging Congress to grant PNTR to Vietnam. The voting is scheduled to take place later this month.

“Anytime we can open up a new market, it’s to our advantage,” said Bob Bowman, chairman of NCGA’s Joint Trade Policy A-Team.

“But we’re most interested in the long-term impact. Once we start trading on any level, it opens the door to value-added agricultural products, like ethanol and beef,” he added.
*** Meanwhile, in a recent letter to the US Department of Commerce (DOC), Senators Gordon H. Smith and Dianne Feinstein said the DOC’s programme to monitor textile and apparel imports from Vietnam and self initiate antidumping investigations will possibly “burden and, therefore, discriminate against trade in textile and apparel products from Vietnam”.

The two Senators called on the DOC to consult with other members of Congress before committing itself to a process that will have profound implications for US constituents.
“We are extremely troubled with the Administration’s decision to use our trade remedy laws as a tool in the legislative process,” the Senators said.

They also stressed that the US-Vietnam Bilateral Trade Agreement and the latter’s entry into the World Trade Organisation are intended to facilitate and increase bilateral trade flows.

“Any unilateral steps by the US that will burden or restrict trade with Vietnam outside of existing legal constraints and procedures will be wholly inconsistent with this goal,” the Senators insisted.

They called on the DOC not to establish any additional requirements or altered standards for importers and exporters of Vietnamese products.

In conclusion, they confirmed their support for granting Vietnam PNTR status, saying that they believe “Vietnam’s accession to the WTO will open new doors of opportunity for businesses, workers, and agriculture communities both in the United States and Vietnam.”

VNA/VOVNews