In a historic breakthrough on July 25, 1999 in Hanoi, the U.S. and Vietnam successfully concluded negotiations on the Agreement on Trade Relations, paving the way for the reciprocal extension of Normal Trade Relations, or NTR, between the U.S. and Vietnam. * What happens next? With negotiations now concluded, the 100 pages agreement needs technical clarification and translation certification preparing both English and Vietnamese texts for signing. This work should be concluded by the end of August 1999. As other issues could potentially crowd the agenda for next year, the hope is that the trade agreement can be formally signed in Washington, Hanoi or at the APEC Summit in New Zealand September, 9-13 by U.S. Trade Representative Charlene Barshefsky or President Clinton and submitted to Congress soon thereafter so that the Congressional approval process can be completed by the end of the Congressional calendar year. Both governments will need another year to sign the agreement, on July the 13th, 2000 * 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 of 1974, as amended: 1) A waiver of the Jackson-Vanik Amendment must be renewed annually by the President; and 2) the U.S. and Vietnam must conclude a bilateral trade agreement. Once a bilateral trade agreement is signed by the two Governments, it will be submitted to Congress with a request for the granting of NTR for Vietnam. Non-discriminatory treatment can only be extended through a joint "approval resolution" passed by both the House and the Senate. NTR status for Vietnam would then be subject to annual renewal each summer through the continuation of the Jackson-Vanik waiver. Currently, countries that do not have NTR status are Afghanistan, Cuba, Laos, North Korea, Serbia & Montenegro and Vietnam. * What are the Congressional procedures? Pursuant to Section 152 (b) of the Trade Act of 1974, as amended, an approval resolution for NTR status is first introduced (by request) to the House and the Senate and then is referred to the House Ways and Means Committee and the Senate Finance Committee. Both the House and the Senate must vote in favor of NTR for it to be granted. Because Vietnam is a Jackson-Vanik country, the NTR request has built-in procedures for Congressional consideration-- the agreement cannot be amended and the request must be voted on by the House and the Senate within 60 session days from when the President's request is submitted to Congress, with a maximum of 45 legislative days in committee and 15 days on the floor within which time a vote must be taken. Debate on the floor is limited to 20 hours each for both Houses. Upon Congressional approval and a Presidential signature, diplomatic notes are exchanged between the two sides, formally extending reciprocal NTR status. It is hoped that the whole process can be completed by year end 1999. Information provided by the US-Vietnam Trade Council VH, XP-CONSULTEC TNHH Co., Ltd. in HCMC/ Vietnam
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