VietNamNet Bridge - United States Trade Representative (USTR) Susan Schwab has said that the USTR aimed to end negotiations on the trade and investment framework agreement (TIFA) between Vietnam and the US in June or July 2007 during the visit to the US by Vietnamese President Nguyen Minh Triet.
Ms Susan Schwab.
However, the USTR representative said that ‘this is not an immutable deadline”.
Ms Susan Schwab and Vietnamese Deputy Prime Minister agreed to accelerate TIFA negotiations at a meeting on March 16 in Washington. During this meeting, Vietnam asked the US to consider applying the generalised system of preferences (GSP) for goods from Vietnam.
Vietnam considers TIFA and GSP as the two necessary conditions for a free trade agreement between the two countries. USTR said that the US reached a TIFA in 2006 with the Association of Southeast Asian Nations (ASEAN), of which Vietnam is a member. However, a bilateral TIFA would be a mechanism for the two sides to supervise the implementation of WTO commitments and the Vietnam-US Bilateral Trade Agreement (BTA).
TIFA will be also an official forum for dialogue between the two countries to discuss new initiatives to promote and expand trade and investment relations.
An announcement released by the USTR on March 19 quoted Ms Schwab as saying: “I am enthusiastic about our joint vision for the future of this relationship. 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.”
(Source: Tin Tuc)
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