BUSH SENDS CONGRESS U.S.-VIETNAM TRADE PROCLAMATION
President Bush has signed and sent to Congress a proclamation that would establish normal trading relations with Vietnam.
The proclamation extends nondiscriminatory tariff treatment to proejcts of Vietnam.
The president also sent Congress a bilateral trade agreement signed between the U.S. and Vietnam in July 2000.
If Congress approves the trade agreement, Vietnam will be eligible for normal trade relations status, subject to renewal each year.
Under the trade agreement, Vietnam has committed to opening its market to U.S. goods, services, and investment, and to moving toward the adoption of World Trade Organization, plus other international trade and investment norms.
The agreement covers six areas:
* Market access for industrial and agricultural goods.
* Protection of intellectual property.
* Market access for services.
* Investment protection.
* Business facilitation.
* Transparency.