Vietnam Set to Open Its Doors

By Hilton, Andrew | Business Asia, February 2001 | Go to article overview

Vietnam Set to Open Its Doors


Hilton, Andrew, Business Asia


The ratification of the US-Vietnam bilateral trade agreement is expected to be passed next month by both the US Congress and Vietnam's National Assembly. ANDREW HILTON(*) reviews this historic agreement.

CONCLUDING OVER four years of negotiations, representatives of the Vietnamese and United States Governments signed the bilateral trade agreement (BTA) in Washington on 13 July last year.

The BTA comprises of seven chapters covering trade in goods, protection of intellectual property rights, trade in services, development of investment relations, business facilitation, transparency and appeal provisions, and general articles. Under the BTA, normal trade (formerly "most favoured nation") relations are established between the US and Vietnam-subject to the annual Jackson-Vanick waiver by the US President.

Under the BTA, average tariff rates on Vietnamese goods imported to the US will be reduced from about 40 per cent to three per cent. Vietnam has agreed to a phased reduction of its tariffs on a range of US goods over a three-year period.

In addition, with the exception of prohibited imports such as cigarettes, used consumer goods and used spare parts for vehicles, Vietnam has committed to eliminate quotas on imports of a wide range of US agricultural and industrial products over a period of two to seven years (with the exception of sugar, which has a 10 year period). However, quotas may still be applied by either country to textiles and textile products of the other.

Under Chapter Two of the BTA, Vietnam has agreed to adopt the World Trade Organisation (WTO) standards for intellectual property rights protection within 18 months.

Vietnam will also apply the WTO Agreement on Trade in Services (GATS), opening up a range of service industries to US investors. These include legal, accounting, auditing and taxation advice, architecture, advertising, telecommunications, construction and education, distribution, insurance and banking and finance.

Whilst some of the concessions granted to US investments in the services sector are already generally available to foreign investors, the services market in Vietnam will be opened up considerably as the BTA is implemented during the various phase in periods.

Vietnam has agreed to phase out all trade-related investment measures inconsistent with WTO regulations, such as requirements for local content and export ratios over agreed time periods. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Vietnam Set to Open Its Doors
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.