The
U.S.-Vietnam Trade Council
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Mission
The U.S.-Vietnam Trade Council is a nonprofit membership organization of
American corporations and professionals founded in 1989. The Trade Council’s
core agenda is built around three interdependent issues: full normalization of
U.S.-Vietnam relations; the framework of policy essential to building a new
economic partnership between the two nations; and assisting the establishment of
links that increased bilateral trade and investment.
District of Columbia
, the Council is a tax-exempt organization
under section 501(c)(6) of the Internal Revenue Code. The Council is affiliated
with The International Center in
Washington
,
D.C.
, a 501(c)(3) non-profit foreign policy
organization. The Council conducts its educational programs through the
U.S.-Vietnam Trade Council Education Forum. A Board of Directors guides the
Council, and its staff in implement programs and activities.
Board
of Directors
The Board of Directors is led by our
new Chairman, Ambassador Douglas “Pete” Peterson. Ambassador Peterson served
as the first post-war ambassador to
Vietnam
under the Clinton and Bush Administrations
from May 1997 until July 2001. Other distinguished members of the Trade
Council’s Board include: Ambassador William Sullivan, Co-Founder and Chairman
Emeritus; Rear Admiral Ming E. Chang - U.S. Navy, ret.; Edward Cloonan - Vice
President, Corporate Affairs, American International Group; Brad Figel -
Director, Government Relations, NIKE; Orit Frenkel - International Government
Relations Manager, General Electric; Virginia B. Foote – Co-Founder and
President, U.S.–Vietnam Trade Council; Laura Hudson - Director, International
Government Relations, Unocal; Lionel Johnson - Director, International
Government Relations, Citigroup; and Jean Pritchard - International Trade Policy
Representative, Boeing; Joseph Damond - chief U.S. negotiator of the Bilateral
Trade Agreement, now Associate Vice President for Japan and Asia Pacific at
Pharmaceutical Researchers and Manufacturers Association, and Former Senior
Advisor to the Ambassador at the U.S. Embassy in Hanoi, Robert Schiffer.
Membership
Members of the Trade Council include leading
U.S.
corporations and prominent professional
firms that representing a cross-section of
America
’s industrial and service sectors are of
the Council. In addition, affiliate membership in the Trade Council is open to
non-profit organizations, including educational institutions, think tanks and
economic development agencies.
Staff
The Council has an excellent staff of eleven headed by Trade Council President
Virginia Foote who has worked to normalize relations between the two countries
since 1989. With offices and
professional staff in
Washington
,
DC
,
Hanoi
and
Ho Chi Minh City
, the Trade Council is primed to be
responsive to the needs of our Members. In
addition, the Education Forum’s in-country technical assistance team includes
international trade and local Vietnamese attorneys.
Staff: Virginia B. Foote,
Co-Founder and President; Demetrios
Marantis, Chief Legal Advisor; Shiumei Lin, International Trade Policy
Analyst; Pham Minh Tri, Legal Expert; Dung Ngo, Program
Director; Thaddeus Hostetler, Resident Administrator; Vu Thanh Thuy,
Program Associate; Tran Hong Ha, Office Manager/Program Associate; Nguyen
Thi Thuy, Program Assistant.
Washington
,
Hanoi
, and
Ho Chi Minh City
Offices
Council is available to assist with research, access, appointments and
up-to-date expertise in each cities. In Washington the Council maintains
direct contact with lawmakers regulators and other government officials who make
and administer U.S. policy towards Vietnam, while our offices in Hanoi and Ho
Chi Minh City are in regular contact with our Vietnamese counterparts at the
Office of the Government, Ministry of Trade, Ministry of Finance, Ministry of
Foreign Affairs, Ministry of Justice, Ministry of Planning and Investment and
others. Our long-standing
relationships with counterpart government officials and commercial enterprises
in Vietnam puts us in a unique position to help foster conditions that increase
bilateral trade and investment, improved understanding, while providing on the
ground assistance to our members.
New
Relations for a New Era
On
December 10, 2001
, at a Blair House
ceremony with Deputy Prime Minister Nguyen Tan Dung, Trade Minister Vu Khoan and
USTR Ambassador Robert Zoellick present, the
U.S.
and
Vietnam
witnessed the
signing into force of a landmark bilateral trade agreement, completing a
historical milestone in the normalization of relations between our two
countries. The U.S.-Vietnam Trade Council and its membership have been and will
continue to be at forefront of developing economic relations between the
U.S.
and
Vietnam
.
The
U.S.-Vietnam Trade Council was established in 1989, when
Vietnam
’s economic reform program was in its
earliest phase, to serve as a focal point for American private sector leadership
aimed at achieving normalized diplomatic and economic relations. We continue to
be an invaluable information source and key player in the strengthening of
U.S.-Vietnam relations.
The
Council hosts senior Vietnamese officials in
Washington
for high level meetings and conferences and
organizes delegations to
Vietnam
for Cabinet officials, Members of Congress,
corporate, and other policy leaders. Its
educational affiliate, the U.S.-Vietnam Trade Council education Forum, dedicates
significant resources to education and training programs for Vietnamese
professionals on
U.S.
foreign and trade policy.
The
Council provides and interested individuals with detailed information on
Vietnam
’s economy, the status of the trade and
investment relationships between
Vietnam
and other countries, and expert guidance on
the new relations developing between
Washington
and
Hanoi
.
The
Opportunity
East Asia
remains one of the most dynamic growth
areas in the world trading system, now in recovery from the Asian Financial
Crisis and the aftermath of September 11th. The hard work of recovery
continues and a new, stronger
Asia
is rising, one with stronger financial
institutions and corporations and a higher degree of transparency in political
and economic governance.
Compared with most other nations in
East Asia
,
Vietnam
is not wealthy, industrialized, or fully
integrated into the global economy and suffers still from years of hardship.
Vietnam
only began to open its economy to
international involvement in the late eighties and its transition to a market
economy has often appeared in danger of stagnation.
But
Vietnam
has emerged rapidly from years of poverty,
isolation and war -- and continues to do so.
Vietnam
’s potential is
considerable. Its strong agricultural base is complemented by an abundance of
natural resources, including oil, gas and coal. Most importantly,
Vietnam
is rich in human
capital that is literate, hard working and young. Over half of the population of
nearly 80 million is under the age of 25. The demand for consumer goods and
services, especially from the West, is rising rapidly.
Establishing
strong economic links with the international community is a major feature of
Vietnam
’s transition to
a more market driven economy. Today,
Vietnam
has normal trade
relations with every key member of the community of nations including the
United States
. It is making
significant strides to implement the US- Vietnam BTA and has set the goal of
joining the World Trade Organization (WTO) in 2005. The Council is working to
achieve this goal of full economic relations as rapidly as possible and to
ensure that
America
is in a position
to participate in present and future economic and development opportunities in
Vietnam
.
The
Bilateral Trade Agreement (BTA)
On
December 10, 2001
the
U.S.
and
Vietnam
brought into
force a long awaited bilateral trade agreement signifying
Vietnam
’s commitment
to economic reform and integration into the global trading community. The BTA
is the most comprehensive NTR trade agreement ever signed by the
U.S.
and includes
commitments and obligations found in WTO agreements, including trade in goods,
intellectual property rights, services, investment, business facilitation and
transparency. It is a blueprint for a new
Vietnam
, with full
access to the
U.S.
market and
bringing international trade rules and predictability to a nation long
isolated from much of the international economic community and still
recovering from decades of war.
ê
Tariffs
– The
U.S.
and
Vietnam
agree to grant reciprocal NTR tariffs,
with the
U.S.
undergoing an annual review under the
Jackson-Vanik provisions of the Trade Act of 1974.
ê
Goods
– Through the BTA,
Vietnam
’s trading system is expected to undergo
significant liberalization and reform with market access commitments made in
the reduction tariffs, elimination non-tariff barriers including export and
import licensing and quantitative restrictions, and the granting of trading
and distribution rights phased in over time.
ê
Intellectual Property
– The BTA ensures the recognition of protection in the areas of copyright,
and patent & trademark protection while ensuring that a system for
registration is available and enforcement of violations in intellectual
property is implemented. All commitments will be phased in over a period of 12
– 30 months.
ê
Services
– In the area of services, American service providers can look forward to
increased market access, Most Favored Nation (MFN) Status and national
treatment in several service sectors including telecommunications, banking,
insurance, legal services, auditing and accounting and computer related
services.
ê
Investment
–
Vietnam
’s commitments made under the Chapter on
Investment allows it to become one of the most attractive recipients of
foreign direct investment in
Southeast Asia
. The BTA ensures national treatment the
for U.S. investor, while seeking the elimination of Trade Related Investment
Measures (TRIMs) and investment licensing, and installing a dispute settlement
mechanism that recognizes the awards of international investment tribunals.
ê
Transparency
– The BTA introduces the very important elements of transparency and
predictability into
Vietnam
’s trade and investment regime. Vietnam
has committed to the publication of all laws and regulations, access to
economic data, commentary periods for the formulation of laws the installation
of administrative procedures and the right of appeal and a transparent import
licensing regime according to WTO’s Agreement on Import Licensing
Procedures.
Trade
Council Activities
The
Council’s work is concentrated on: sponsoring and convening policy forums;
assessing issues and providing up-to-date information; engaging in government
and Congressional relations; facilitating access in
Vietnam
and thee
U.S.
; and providing
technical assistance programs aimed at facilitating global economic integration
for
Vietnam
.
«
Bilateral Trade Agreement
The Trade Council played a key role in the
conclusion of the bilateral trade agreement by providing crucial indepth
technical assistance on issues related to the BTA, and working in close
consultation with the Ministry of Trade in Vietnam and the Office of the U.S.
Trade Representative. The concluded BTA, together with an annual Jackson-Vanik
waiver, provides for normal trade relations (NTR) to be extended to exports from
both countries. Through the Trade Council’s educational affiliate, the
U.S.-Vietnam Trade Council Education Forum, we continue to work with our
Vietnamese and
U.S.
counterparts, our
membership and the private sector on issues related to BTA implementation.
«
Normal
Trading Rights (NTR) and Jackson-Vanik Renewal
Congressional
activities are a key focus of the Council. With the trade agreement signed and
annual NTR extended to
Vietnam
, the Trade Council will
lead efforts to extend NTR status to
Vietnam
in Congress annually and
to renew the Jackson-Vanik waivers. Access to U.S. Government export assistance
programs through the Export-Import Bank of the U.S. (EXIM) and the Overseas
Private Investment Corporation (OPIC) will continue to be made available to
companies, contingent upon the renewal of the Jackson-Vanik waiver.
«
WTO Accession
Vietnam
is currently seeking WTO
accession and has committed to working towards joining the global trading body
by 2005. With our experience gained
from assisting with the BTA, the Trade Council will continue to work with key
ministries and counterparts involved in WTO accession involving tariffs,
non-tariff barriers, subsidies, trade remedies, TRIMS, and financial services.
Work conducted to assist the team in
Vietnam
,
Washington
,
DC
and
Geneva
will aim to facilitate
the understanding of issues raised by the overall negotiations, accession
processes, and membership commitments. Throughout,
the Educational Forum’s activities will involve the building of an
international trade legal curriculum for Vietnamese professionals and academics;
we hope to be able to assist in capacity building the legal capacity for global
integration and compliance with international commitments.
«
Assistance for Members
We work closely with our counterparts at key Vietnamese ministries with
oversight in trade, investment, finance & other services, and intellectual
property rights, providing access and dialogue for our member companies. The
Trade Council also hosts events and briefings with visiting Vietnamese, or
U.S.
officials in
Washington
,
Hanoi
, and
Ho Chi Minh City
.
Our offices assist Member’s interests through contacts, research, and
up-to-date expertise on the political and economic climate of
Vietnam
, and individual
assistance.
«
Overall Bilateral Issues
The Trade Council works on issues regarding the overall relationship,
including MIA issues, immigration affairs, labor, human rights and other
political issues that continue to affect the pace and scope of full
normalization. Toward this end, the Council and the Education Forum engage
congressional representatives and staffers and other influential policy makers
through briefings and delegations to
Vietnam
.
«
Congressional Relations
The Trade Council organizes Congressional and Congressional staff
delegations to
Vietnam
with participation
from Members. In addition, the
Council provides contacts and background information on the ground for
Congressional delegations, while keeping our Members informed through
delegations, meetings and briefings with Congress.
The Council testifies before Congress on a regular basis and works with
Members to provide testimony and input on issues affecting the specific or
overall issues.
«
Government
Relations
The Council organizes regular meetings with
U.S.
officials for
briefings and exchange of views, in addition to regular meetings with Vietnamese
officials. These regular
briefings offer Members to keep up-to-date on the overall relationship,
particular issues and to exchange views.
«
Annual Conference
The Council has organized and hosted annual events in
Vietnam
or the
U.S.
to assess the
progress and mark the milestones. Key
note speakers have included the President of the
United States
, Prime Ministers
and Deputy Prime Minister Phan Van Khai, Nguyen Tan Dung, Nguyen Manh Cam, Vu
Khoan, former USTR Charlene Barshefsky, Deputy USTR Jon Huntsman, Ambassadors Le
Van Bang and Nguyen Tam Chien, and many other
U.S.
and Vietnamese
officials.
«
Visiting
Delegations
Through the Education Forum, the Council has organized many delegations of
Vietnamese officials to the U.S, for study missions, technical assistance, and
visits with Member companies. These
delegations have been invaluable in building relationships and establishing a
common framework for economic and diplomatic relations for Members and their
counterparts. Internships and
fellowships are also available.
«
Publication and
Information
Publications and memorandums disseminated on a regular basis provide updates
on significant political and economic developments relating to
Vietnam
and the overall bilateral
relationship. Vietnam
Updates feature Trade Council and Educational Forum activities and
reports. On a monthly basis, members receive our Catalog of Legal Updates
keeping track of new laws, decrees and circulars relevant to provisions in the
BTA and to companies operating in
Vietnam
.
The Council has also published documents useful to American companies
including its Summary
of the U.S.-Vietnam Trade Agreement (in both English and Vietnamese),
FAQs on Jackson-Vanik and the BTA; WTO and Next Steps in the Trade Relationship,
power point presentations and statistical information.
Technical assistance papers, memos and consultations are also available
upon request.
Our
website old.usvtc.org is among the best and
most comprehensive websites on
Vietnam
.
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