Statement of Administration Policy: H.R. 5602 - Permanent Normal Trade Relations for Vietnam

STATEMENT OF ADMINISTRATION POLICY

(House)

(Rep. Ramstad (R) MN and 47 cosponsors)

The Administration strongly supports enactment of H.R. 5602, which would authorize the President to grant permanent normal trade relations (PNTR) to Vietnam. Granting PNTR is the next step in the process of normalizing our relations with Vietnam.

Vietnam will soon become a Member of the World Trade Organization (WTO). Granting Vietnam PNTR will permit both countries to enjoy the benefits of Vietnam's membership in this organization.

U.S. businesses, farmers, and ranchers will gain substantially greater access to Vietnam's growing market across the full range of U.S. products and services. In addition, Vietnam will be bound by international trading rules and practices that will afford additional certainty and protection for U.S. firms doing business in Vietnam. WTO rules requiring Vietnam to make its trade regime more transparent and to provide due process rights in connection with trade matters, will encourage the rule of law in Vietnam.

The Administration urges Congress to enact H.R. 5602 promptly.