Monday, June 11, 2001

 

Volume 37, Issue 23; ISSN: 0511-4187

 

Message to the Congress on trade in Vietnam

George W Bush

 

 

� Message to the Congress on Trade With Vietnam

 

 

� June 8,2001

 

 

� To the Congress of the United States:

 

 

� In accordance with section 407 of the Trade Act of 1974, as amended

(19 U.S.C. 2434) (the "Trade Act"), I am transmitting a copy of a

proclamation that extends nondiscriminatory tariff treatment to the

products of Vietnam. As an annex to the proclamation, I also enclose

the text of the "Agreement Between the United States of America and

the Socialist Republic of Vietnam on Trade Relations," which was

signed on July 13, 2000, including related annexes and exchanges of

letters.

 

 

� Implementation of this Agreement will strengthen political

relations between the United States and Vietnam and produce economic

benefits for both countries. It will also help to reinforce

political and economic reform in Vietnam.

 

 

� I believe that the Agreement is consistent with both the letter and

spirit of the Trade Act. The Agreement provides for mutual extension

of nondiscriminatory tariff treatment, while seeking to ensure

overall reciprocity of economic benefits. The Agreement includes

safeguard arrangements designed to ensure that imports from Vietnam

will not disrupt the U.S. market.

 

 

� The Agreement also facilitates and expands the rights that U.S.

businesses will have in conducting commercial transactions both

within Vietnam and with Vietnamese nationals and business entities,

and includes provisions dealing with settlement of commercial

disputes, investment, financial transactions, and the establishment

of government commercial offices. Vietnam also agrees to adopt

standards for intellectual property protection that match the

standards set forth in the WTO Agreement on Trade-Related Aspects of

Intellectual Property Rights.

 

 

� On June 1, 2001, I waived application of subsections 402 (a) and

(b) of the Trade Act with respect to Vietnam. I urge that Congress

act as soon as possible to approve, by a joint resolution referred

to in section 151 (b) (3) of the Trade Act, the extension of

nondiscriminatory treatment to the products of Vietnam as provided

for in the Agreement.

 

 

� George W. Bush

 

 

� The White House, June 8,2001.