Why does the U.S. need a bilateral trade agreement with Vietnam?
A bilateral trade agreement with Vietnam is important to the U.S. because together with a Jackson-Vanik waiver, it allows for Normal Trade Relations (NTR) status to be extended to U.S. goods entering Vietnam, and reciprocally to Vietnamese goods entering the U.S. The bilateral trade agreement, which addresses issues relating to trade in goods, trade in services, intellectual property rights and foreign investment, not only guarantees NTR but creates more open market access, and greater transparency for U.S. exporters and investors in Vietnam. Through this trade agreement and provision of NTR status, the U.S. will receive the same status that Vietnam affords its other trading partners such as the EU, Australia and Canada. * How does Vietnam receive NTR status under U.S. Law? In order to receive NTR status from the U.S., the following criteria must first be met under Title IV of the Trade Act, as amended: 1) A waiver of the Jackson-Vanik Amendment must be renewed annually by the Presiden
