Vietnam is exerting every effort to lobby the US Congress for its approval of permanent normal trade relations (PNTR) status for the country in a bid to accelerate its World Trade Organisation (WTO) entry process. In the beginning of June, Dong Nai Newspaper’s reporter has been in Washington DC where there was an interview with Mr. Nguyen Tam Chien, Vietnamese Ambassador to the US.
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| Mr. Nguyen Tam Chien, Vietnamese Ambassador to the US (in the middle) |
Vietnam is exerting every effort to lobby the US Congress for its approval of permanent normal trade relations (PNTR) status for the country in a bid to accelerate its World Trade Organisation (WTO) entry process. The successful conclusion of negotiations with the US will pave the way for Vietnam’s PNTR vote to be introduced to the US Congress in late Spring 2006 for passage before the August 2006 recess. In the beginning of June, Dong Nai Newspaper’s reporter has been in Washington DC where there was an interview with Mr. Nguyen Tam Chien, Vietnamese Ambassador to the US.
Reporter: Precisely when will Vietnam officially enter the WTO according to you?
Mr. Nguyen Tam Chien: The next round of multilateral negotiations on Vietnam’s accession to the WTO is expected to take place in July. If everything goes smoothly, WTO could admit Vietnam in October.
Reporter: I am optimistic about the prospect of Vietnam’s accession to the WTO this year. Could you please tell us when the US will grant PNTR status to Vietnam ?
Mr. Nguyen Tam Chien: Vietnam, in particular, the Vietnamese Embassy in the United States is intensifying its efforts to win the US Congresss early approval of PNTR status for Vietnam. The granting of PNTR status by the US to Vietnam will provide favorable conditions for business activities, and broadening US-Vietnam trade and economic relations. This also will give Vietnamese companies greater access to the US market.
Reporter: According to our observation, the US is a potential consume market. Do you think this is a chance for Vietnamese companies?
Mr. Nguyen Tam Chien: I agree with your observation. The US is a large consuming market but has high requirements for the quality and patterns. Therefore, Vietnamese companies need to clearly understand the challenges they will be facing. To minimize risk, the companies should find out the needs and wants of customers in the market, determine what the customers require in the products and services they consider for purchase, and of courses, Vietnamese products and services have to be able to compete on price, quality and availability with the same products of other countries that are being sold in US market. Besides, the companies need to closely study US regulations to avoid to be sued.
Reporter: Could you please tell us about American attitudes towards the signing of a bilateral agreement between Vietnam and the US on the former’s accession to the World Trade Organisation (WTO)?
Mr. Nguyen Tam Chien: US business communities are eyeing Vietnam as a potential market in many fields. The US$605-million investment project undertaken by Intel, the largest chipmaker in the US is encouraging other investors to invest in Vietnam. Many US companies have been drawn to Vietnam’s market potential. These mean interest from US to Vietnams market is increasing.
The effort will be to enhance the level of understanding on WTO related matters for people of all classes. The main our focus is to provide WTO-related information, training and consultation services to Vietnamese businesses, so as to promote a better understanding on WTO rules, especially on some specific trade agreements and tax cuts on products in order to facilitate cooperation between Vietnamese and foreign enterprises.
Reported by Kim Loan
