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USTR Meets With Vietnam Government To Discuss TIFA

by Glen Shapiro, LawAndTax-News.com, New York

22 March 2007


US Trade Representative Susan C. Schwab and Vietnam’s Deputy Prime Minister and Foreign Minister Pham Gia Khiem met last Friday, when they announced the launch of negotiations to conclude a Trade and Investment Framework Agreement (TIFA), which will serve as a platform on which the two countries will work to further strengthen their trade and investment ties.

“I am enthusiastic about our joint vision for the future of this relationship,” announced Ambassador Schwab. She continued:

“Vietnam is a dynamic and rapidly growing economy, and we see a TIFA as an important vehicle for promoting continuation of the impressive expansion in our trade and investment relationship that we have witnessed over the past few years.”

The TIFA will establish a formal dialogue under which the two countries intend to discuss new initiatives to deepen their trade and investment ties. It will also provide a forum for monitoring Vietnam’s implementation of its WTO and Bilateral Trade Agreement (BTA) commitments.

“We are pleased with Vietnam’s progress so far in implementing its WTO and BTA commitments."

“We look forward to continuing to work closely with the Vietnamese Government to support these efforts and ensure that American businesses can take full advantage of the substantial new opportunities in the Vietnamese market,” Ambassador Schwab concluded.

The TIFA will be negotiated under the Enterprise for ASEAN Initiative (EAI), an initiative which the US government launched to strengthen ties with countries in the Southeast Asian region.


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