[Congressional Record (Bound Edition), Volume 147 (2001), Part 7]
[Senate]
[Pages 10264-10265]
[From the U.S. Government Publishing Office, www.gpo.gov]



 REPORT ON THE AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE 
  SOCIALIST REPUBLIC OF VIETNAM ON TRADE RELATIONS--MESSAGE FROM THE 
                            PRESIDENT--PM 26

  The PRESIDING OFFICER laid before the Senate the following message 
from the President of the United States, together with an accompanying 
report; which was referred to the Committee on Finance.

To the Congress of the United States:
  In accordance with section 407 of the Trade Act of 1974, as amended 
(19 U.S.C. 2434) (the ``Trade Act''), I am transmitting a copy of a 
proclamation that extends nondiscriminatory tariff treatment to the 
products of Vietnam. As an annex to the proclamation, I also enclose 
the text of the ``Agreement Between the United States of America and 
the Socialist Republic of Vietnam on Trade Relations,'' which was 
signed

[[Page 10265]]

on July 13, 2000, including related annexes and exchanges of letters.
  Implementation of this Agreement will strengthen political relations 
between the United States and Vietnam and produce economic benefits for 
both countries. It will also help to reinforce political and economic 
reform in Vietnam.
  I believe that the Agreement is consistent with both the letter and 
spirit of the Trade Act. The Agreement provides for mutual extension of 
nondiscriminatory tariff treatment, while seeking to ensure overall 
reciprocity of economic benefits. The Agreement includes safeguard 
arrangements designed to ensure that imports from Vietnam will not 
disrupt the U.S. market.
  The Agreement also facilitates and expands the rights that U.S. 
businesses will have in conducting commercial transactions both within 
Vietnam and with Vietnamese nationals and business entities, and 
includes provisions dealing with settlement of commercial disputes, 
investment, financial transactions, and the establishment of government 
commercial offices. Vietnam also agrees to adopt standards for 
intellectual property protection that match the standards set forth in 
the WTO Agreement on Trade-Related Aspects of Intellectual Property 
Rights.
  On June 1, 2001, I waived application of subsections 402(a) and (b) 
of the Trade Act with respect to Vietnam. I urge that Congress act as 
soon as possible to approve, by a joint resolution referred to in 
section 151(b)(3) of the Trade Act, the extension of nondiscriminatory 
treatment to the products of Vietnam as provided for in the Agreement.
                                                      George W. Bush.  
The White House, June 8, 2001.

                          ____________________