Calls for Similar Prompt Action in House Ways and Means
Washington, DC – The National Foreign Trade Council today issued a statement praising the Senate Finance Committee for favorably voting on legislation aimed at providing Permanent Normal Trade Relations (PNTR) treatment to Vietnam.
“Today’s markup of legislation providing PNTR to Vietnam indicates the strong support for this important final step in normalization of relations with Vietnam,” said NFTC President Bill Reinsch. “There seems to be little question of the value of this measure. Granting PNTR is necessary to ensure that the United States receive the full benefits of Vietnam’s WTO market-opening and rules commitments upon Vietnam‘s accession to the WTO. The question now is timing,” added NFTC President Bill Reinsch.
Vietnam’s WTO accession is expected to occur in October. With the House already in recess, and the Senate next week, the granting of PNTR must be taken up in September for the United States not to have to file a non-application clause upon Vietnam’s accession. In addition, President Bush is expected to travel to Hanoi in November.
“We urge prompt Congressional action. It is vital that PNTR be granted prior to these important fall dates so that the U.S. can continue to grow trade with Vietnam and advance American foreign policy objects in Southeast Asia,” concluded Reinsch.
Advancing Global Commerce for Over 90 Years
The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.