Vietnam, U.S. to Foster Trade and Investment Ties
Vietnam and the U.S. are looking to further boost bilateral trade and investment relations, Stepen J.Norton, assistant press secretary of the U.S. Trade Representative Office (USTR) affirmed at the first ministerial-level TIFA Council meeting.
The council meeting of the Vietnam-U.S. Trade and Investment Framework Agreement (TIFA) took place on December 17 in Washington.
Participants at the meeting also agreed to enhance assistance to Vietnam for trade-related reforms and to seek greater participation from the respective private sectors in the trade dialogue, Stepen J. Norton said.
More favorable conditions will be given to U.S. poultry and beef producers in the Southeast Asian country and Vietnamese tropical fruits in the U.S, the meeting heard.
A quarterly meeting under the TIFA will be held for officials of the two countries to discuss ways to address potential issues.
Two-way trade between Vietnam and the U.S. reached US$9.7 billion in 2006, an eight-fold increase against 2000. The figure is expected to hit US$12 billion this year.
By the end of 2006, the U.S. investors poured US$4.5 billion into Vietnam, ranking 6th among 75 countries and territories investing in the country. (Web site of government)
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