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Viet Nam, US trade expanding
09 | 07 | 2007
Viet Nam-US trade is growing at dizzying speed, especially after the two countries signed a bilateral trade agreement (BTA) in 2000. Two-way trade reached 9.7 billion USD in 2006, a six-fold increase over the figure recorded in 2001, the year seeing the BTA taking effect.

It was noted that Viet Nam's export earning from the US rocketed from 1 billion USD in 2001 to 8.6 billion USD in 2006, with its main products being footwear, apparel products, seafood, crude oil, wooden furniture and farm products.

The country's imports from the US stood at 1 billion USD on average, with mostly semi-processed and manufactured products, aero-planes and engineering machinery.

Following the BTA, the two countries inked a number of accords and agreements on textile and garments, aviation, economy, technical cooperation, and agriculture.

Other highlights in the two countries' economic ties in 2006 were the conclusion of the two countries' negotiation on Viet Nam's entry to the World Trade Organisation and the US's adoption of a bill to grant the Permanent Normal Trade Relations status to Viet Nam.

However, certain hurdles still remain in bilateral trade because of the US's non-tariff barriers, including anti-dumping lawsuits against Vietnamese 'catfish' fillets and frozen shrimps and the imposition of a special controlling mechanism on Vietnamese apparel products.

Such hindrances were on the agenda of a recent US visit by Deputy PM Pham Gia Khiem.

To remove these barriers, Viet Nam has proposed the US adjust its economy-trade policy to clear the way for Viet Nam to import hi-tech products from the US, and boost its exports to the US market

Nguồn tin: Báo QDNN
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