US, Vietnam meet this week to finalize trade pact

["DiemQuynh Nguyen" <diemquynhng@hotmail.com>]

>   US, Vietnam meet this week to finalize trade pact
>
>     11:23 a.m. Aug 24, 1999 Eastern
>
>  WASHINGTON, Aug 24 (Reuters) - U.S. and Vietnamese officials will
>  try to put the finishing touches on a landmark trade pact when they meet
>  here this week, a spokeswoman for the U.S. Trade Representative's office
>  said on Tuesday.
>
>  The two countries reached preliminary agreement on a trade pact last
>  month in Hanoi. A final agreement would clear the way for Washington to
>  grant Hanoi Normal Trade Relations, formerly called most-favoured-nation
>status.
>
>``I don't know if we'll sign it this week, but we'll continue to work 
>toward
>finalising the details,'' the spokeswoman said.
>  Vietnam is one of only a handful of countries
>that lack the trade status that allows goods to enter the United States at 
>the
>same low tariff levels accorded other countries.
>
>  Meetings to fine-tune last month's preliminary pact begin Wednesday and 
>could
>continue through the rest of the week.
>
>  Once the agreement is finalised, the White House still would have to send
>  it to Congress for approval.
>
>  Earlier this month, U.S. Trade Representative Charlene Barshefsky and
>  U.S. Ambassador to Vietnam Douglas ``Pete'' Peterson told a Senate panel
>  that normalising trade relations with Hanoi would support economic 
>reforms in
>the communist-ruled country.
>  The agreement is expected to require Vietnam to open its market over time
>  to U.S. goods, services and investments and make it easier for U.S. firms
>  to do business there.
>  Hanoi and Washington restored diplomatic relations in 1995, 20 years
>  after the end of the Vietnam War.


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