For Immediate Release
Office of the Press Secretary
June 8, 2001
Letter to the Congress of the United States, June 8
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 procla-mation, 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 Agree-ment 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 reso-lution 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.
|