Text: Assistant Secretary of State on U.S.-Vietnam Trade Agreement
(Wayne says agreement signals opening of Vietnam's economy)

U.S. Assistant Secretary of State For Economic and Business Affairs E. Anthony Wayne called the planned activation of the U.S.-Vietnam Bilateral Trade Agreement (BTA) December 10 "a clear signal that Vietnam is opening up its economy and integrating into the world economic system." Speaking in Washington that day to members of a government and business delegation from Vietnam, as well as representatives from U.S. companies, Wayne said he expected that the two countries would follow up on the BTA by moving forward on Vietnam's application to become a member of the World Trade Organization (WTO).

"Vietnam's accession -- its participation in the rules-based global economic community -- would allow it to reap the higher growth and higher income benefits from which all WTO members are benefiting," Wayne said.

Wayne said there has been "a good deal of progress" regarding Vietnam's accession to the trade body, especially in terms of clarifying Vietnam's policies and plans for bringing its trade system into conformity with WTO standards.

He added that the United States looks forward to reviewing Vietnam's next market access offer in bilateral talks, which he hopes will occur early next year.

Wayne also said he was pleased that there was to be a signing ceremony later that day for a Vietnamese agreement to purchase four Boeing 777 aircraft.

"Coupled with the BTA, this is a significant expression of the expanding commercial relationship between our two countries," he said.

"I believe that Vietnam can be an important market, but it will be your own efforts that will determine your success in attracting the increased trade and investment you desire," Wayne told the Vietnamese delegation members.

"The development -- or perhaps better, the encouragement -- of a strong private sector goes a long way toward taking advantage of new opportunities," he said.

"A stable, prosperous and secure Vietnam will, in my view, enhance regional stability," Wayne said.

Following is the text of Assistant Secretary of State Wayne's prepared remarks:

(begin text)

Remarks by
E. Anthony Wayne
Assistant Secretary of State
For Economic and Business Affairs
Luncheon Meeting with
Vietnamese Government/Business Delegation
December 10, 2001

It is a great pleasure to be here this afternoon. I am delighted to have the opportunity to meet with the Deputy Prime Minister, the Minister of Trade, other members of the government and business delegation from Vietnam, as well as U.S. companies interested in engaging in commercial relations with Vietnam.

Your visit is a significant moment in an ever-deepening relationship. This afternoon you will sign the U.S.-Vietnam Bilateral Trade Agreement (BTA) with the U.S. Trade Representative, Ambassador Zoellick, a step that will expand our access to one another's markets and lead to a doubling of bilateral trade in the first year alone. I understand it will come into effect right away.

The BTA is a clear signal that Vietnam is opening up its economy and integrating into the world economic system. The BTA is a good example of how we can use innovative approaches and creative economic diplomacy to advance our mutual interests.

I trust that we will be able to follow up and expand trade ties between our two countries by moving forward on Vietnam's WTO application. There has been a good deal of progress in the four working party meetings so far, especially in terms of clarifying Vietnam's policies and plans for bringing its trade system into conformity with WTO standards. We look forward to reviewing your next market access offer in bilateral talks, which I hope will occur early next year. A serious offer will go a long way toward ensuring that your accession is handled on a priority basis.

Vietnam's accession -- its participation in the rules-based global economic community -- would allow it to reap the higher growth and higher income benefits from which all WTO members are benefiting as a result of landmark multilateral trade agreements like the Uruguay Round. People - in the U.S., Vietnam and elsewhere - gain from global interaction; they benefit from the opportunities the global system provides. They suffer from its absence.

With the global trading and investment system, we will not just stimulate growth and reduce poverty. We will also further regional and global stability, improve health and working conditions; clear up the environment; and advance the rule of law and other aspects of good governance.

Like Vietnam, America is engaged in a national dialogue about how to reinvigorate its economy. We recognize the benefits of global trade, though we too have some differences domestically with regard to how to proceed. You could see that most graphically in the extremely close vote last week in the House of Representatives on providing Trade Promotion Authority.

And when I say close, I mean close. It passed by just one vote.

Still, it passed. In voting to grant TPA to the President, the House went a long way toward ensuring that America will be an effective and credible partner in trade liberalization talks. As the President said in welcoming the House's decision, "by promoting open trade, we expand export markets, while providing opportunities for other nations as a result of free trade." I look forward to a speedy passage of this authority in the Senate so that we can work with our trading partners - globally, regionally, bilaterally - to set the rules for economic engagement and maintain our competitive edge.

So, as Vietnam works to come up with ways to accelerate its economic growth and integrate further into the global economy, just remember that every nation - every single one, America included - is undergoing a similar process. This will involve some give and take within our societies, some dislocations and short-term hardships, but I am confident it will lead to a better world and a much better way of life for all of us.

I'm also pleased to note that you will be participating in a signing ceremony to purchase four Boeing 777 aircraft. Coupled with the BTA, this is a significant expression of the expanding commercial relationship between our two countries. Let me encourage you to expand that relationship even further by purchasing U.S. engines to go on those Boeing planes. They make a perfect fit.

Your historic visit also gives us an additional opportunity to work together on important regional issues in fora like the ASEAN Regional Forum and APEC. A stable, prosperous and secure Vietnam will, in my view, enhance regional stability. Let me also add that we believe that members of the international community - all of us - have a responsibility to comply with internationally-recognized standards of human rights, and we will continue to have frank discussions with one another on this issue.

Tomorrow is the three-month anniversary of the tragic and horrific events of September eleven. The President has called on America and its friends to commemorate this date. So, if you're traveling about and hear the national anthem being played and see people gathering in small groups, it's because as a nation, we are reflecting on all that's happened, not just in America, but in the world since nine-eleven.

Certainly, what happened was terribly tragic. But there is at least one positive development that has come out of it. I think there's more of a sense of purpose and public-spiritedness in our country today than I can ever recall - there is a strong desire not to allow the terrorists to hijack our domestic and foreign policy agendas.

These murderous attacks did not shake the fundamental strengths of our society. They have steeled our resolve to defend and advance the freedoms we hold dear.

Let me note here that as Vietnam opens wider for business, American business will respond. One of my responsibilities as Assistant Secretary is to assist the promotion of American commercial interests. I believe that Vietnam can be an important market, but it will be your own efforts that will determine your success in attracting the increased trade and investment you desire. The development -- or perhaps better, the encouragement -- of a strong private sector goes a long way toward taking advantage of new opportunities.

Opening markets, advocating sound free market economic policies, increasing transparency and accountability, adhering to the rule of law -- these goals remain as important to us today as they were before September 11. They are the keys to healthy, robust economies that benefit everyone.

I look forward to working with all of you to promote our mutual economic interest. And with that, I'll be pleased to take your questions.

(end text)

(Distributed by the Office of International Information Programs, U.S. Department of State. Web site: http://usinfo.state.gov)


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