Meetings on Trade And Investment Framework Agreement

From March 19-21, United States and Vietnamese senior officials are holding meetings on the bilateral Trade and Investment Framework Agreement (TIFA). U.S. officials from the U.S. Trade Representative's Office, the U.S. Patent and Trade Office, and the U.S Embassy are meeting with their counterparts from the Government of Vietnam to discuss Intellectual Property Rights, WTO implementation, market access, and other issues of bilateral interest.

 

The first, Ministerial-level TIFA Council meeting was held in Washington last December. This week's working-level meetings are part of a joint initiative to intensify and strengthen the bilateral economic relationship.

The United States is Vietnam's third largest trade partner and its largest export market. Vietnam is increasingly a major investment destination for U.S. businesses and a growing market for U.S. goods. Two-way trade in 2007 was US$12.53 billion, up 29 per cent from 2006. U.S. exports to Vietnam increased by 73 per cent to US$1.9 billion from US$1.1 billion in 2006. 

 

With the improved economic climate, major U.S. businesses continue to seek investment opportunities in Vietnam, and the Bilateral Trade Agreement, Vietnamese membership in the WTO, and TIFA offer avenues to further cooperation on trade issues that remain a shared priority for the U.S. and Vietnam.