Bill to Provide PNTR to Vietnam Essential to Securing WTO Accession Benefits
Washington, DC – The National Foreign Trade Council (NFTC) released a statement today urging Congress to quickly approve legislation introduced this morning, which would provide Permanent Normal Trade Relations (PNTR) to Vietnam.
“The NFTC applauds the bipartisan introduction today of legislation in the House and Senate to provide PNTR to Vietnam and urges its prompt passage. PNTR for Vietnam will enable the United States to secure the market access commitments made by Vietnam to liberalize trade with the United States as part of its WTO accession package and is necessary to ensure the U.S. upholds its WTO commitments to Vietnam upon its accession,” said NFTC President Bill Reinsch.
According to Reinsch, “WTO accession for Vietnam will integrate Vietnam more fully into the global economy by advancing open and rules-based reforms. It will further cement a growing economic bilateral relationship between the United States and Vietnam. Vietnam is the fastest growing market for U.S. products in Asia and Vietnam’s WTO accession will further expand this trade to the benefit of U.S. firms, workers and farmers.”
“Congress has an important role to play by enacting legislation to establish normal permanent trade relations with Vietnam, opening access for U.S. business to an important international market,” said Reinsch. “The NFTC looks forward to Congress acting as soon as possible to pass PNTR legislation,” 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.
