Vietnam to Be Listed in US's Prioritized Trade Partners in Asia

Head of the United States Trade Representative's (USTR) Rob Porman said on February 15 that the US should actively enhance economic and trade cooperation with Vietnam, besides Thailand, Singapore, South Korea, India, Japan and China, to maintain its role in the Asian region, Vietnam State media said.

 

Yesterday morning the US’s congress discussed permanent normal trade relations (PNTR) status for Vietnam and agreed that it would vote for the issue when Vietnam and the US conclude talks on Vietnam’s entry into the WTO.

 

The US’s move coincided with the official visit of the Russian Prime Minister to Hanoi, which promises several trade deals regarding energy and army as well.

 

The two-way trade between Vietnam and the US stood at US$7.6 billion last year, up from US$6.4 billion in 2004. In which, Vietnam earned US$6.5 billion from exporting goods, mainly garments, footwear, seafood, coffee and woodwork, to the US, and spent US$1.1 billion importing US products, mostly machines, equipment, pharmaceuticals and cotton.

 

Vietnam is expected to export US$2.9 billion worth of garments, US$1.3 billion of woodwork, US$1 billion of footwear, US$630 million of seafood, and US$450 million of farm products to the US in 2006.
Young People