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Submitted by ctv_en_4 on Mon, 08/07/2006 - 11:25
The Vietnam-US Trade and Economic Cooperation Fair is a good opportunity for enterprises of the two countries to introduce their new technology and products, as well as a contribution to confirming Vietnam’s open-door policy.

The Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the American Chamber of Commerce (Amcham) in Hanoi held a press conference on August 7 to introduce the Vietnam-US Trade and Economic Cooperation Fair.

Under the theme “Vietnam-Potential investment Opportunities”, the fair aims to welcome the upcoming visit of US President George W. Bush to Vietnam to attend the APEC summit, and celebrate the 10th anniversary of normalisation of Vietnam-US diplomatic ties and five years of implementing the US-Vietnam Bilateral Trade Agreement. The fair also aims to bring Vietnam-US trade and economic relations to a new height after Vietnam becomes a WTO member.

General Secretary of VCCI Pham Gia Tuc affirmed that the event is a good opportunity for enterprises of the two countries to introduce their new technology and products to help improve the competitive edge of local enterprises and to promote Vietnamese trademarks in the international integration process. He described the event as a contribution to affirming the Vietnamese Party and State’s open-door policies, as well as the ever-increasing economic co-operation between the two countries after the US-Vietnam Bilateral Trade Agreement was signed. Under the agreement, Vietnamese and US enterprises have played an important role in developing economic and trade relations and strengthening comprehensive cooperation between the two countries.

President of Amcham Vietnam David Knapp confirmed that Vietnam is one of the fastest growing economies in Southeast Asia and one of the most potential emerging markets in the world. Vietnam is implementing liberalisation programmes effectively with an impressive economic growth rate. Over the past four years, GDP growth rate has doubled while the number of poor people has reduced by half in 13 years. US companies have realised the potential of the Vietnamese market and are keen to increase goods, services and capital investment in Vietnam. Mr Knapp said the US business circle has paid special attention to the Vietnamese market.

PNTR bill receives wide support

At the press conference, the Amcham representative answered reporters’ questions about Vietnam-US economic and trade relations, and the fair.

The Amcham representative said that the recent approval of permanent normal trade relations (PNTR) status for Vietnam with a majority of votes in favour by the US Senate Committee on Finance showed the US support for the trade bill.

“Vietnam receives support not only from Amcham Vietnam, but also from Amcham Council in the Asia Pacific region representing more than 1,000 members,” he said, adding that the bill is expected to be approved by Congress before President George. W. Bush comes to Vietnam to attend the APEC summit this November.

The Amcham representative also said that after Vietnam joins the WTO, businesses should think of balancing trade exchanges between the two countries which now stand at 7/1 in favour of Vietnam.

The fair is expected to attract more than 250 local and foreign companies, producers, financial organisations, localities, US enterprises and corporations.

On display will be products in such fields as heavy and light industries, processing industry, financing, banking, insurance, petroleum, construction, telecommunications, hotel and tourism.

Under the framework of the fair, seminars will be held to discuss co-operation opportunities with Vietnam in the post-WTO period as well as advantages of being a member of APEC.

The fair is due to take place in Hanoi from November 6-11.

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