PRESS RELEASE

November 8, 2006

U.S. Officials Welcome WTO Members’ Approval of Vietnam’s Accession to the World Trade Organization

U.S. Ambassador to Vietnam Michael Marine and U.S. Trade Representative Susan C. Schwab both welcomed the WTO Members’ approval of Vietnam’s accession to the World Trade Organization.

“I congratulate the people and the Government of Vietnam as they take their place on the world’s economic stage.  WTO accession will bring new challenges and benefits to this country,” said Ambassador Marine.  “With WTO membership and Vietnam’s hosting of APEC in the coming week, I believe we are poised to take our relationship into a new, deeper phase leading to even closer ties in many more areas.”

In Washington, DC, U.S. Trade Representative Susan C. Schwab, who arrives in Hanoi next week to participate in the APEC Ministerial meetings, released the following statement:

“The United States is very pleased by today’s action in Geneva and welcomes Vietnam into the international trade community.  The world will benefit from the inclusion of this rapidly-growing, dynamic economy in the rules-based trading system.  We now call upon Congress to quickly pass Permanent Normal Trade Relations legislation that will permit U.S. businesses, workers and consumers to benefit fully from Vietnam’s accession and to build deeper and stronger bilateral trade ties going forward.

The Agreement comes at an exciting time in the economic relationship between our two countries.  Vietnam has clearly embarked on a substantial program of economic reform that is built on basic rules of the WTO.  I have been impressed with the strong efforts by the Government of Vietnam to ensure effective implementation of Vietnam’s WTO commitments.

The agreed accession package reflects Vietnam’s intentions to pursue liberalized trade, deregulation and expanded transparency. We look forward to building on the important achievements that will accrue from the accession and approval of its terms by Vietnam’s National Assembly.  Later this month, Vietnam will host the Asia Pacific Economic Cooperation (APEC) Ministerial and Leaders’ meetings where we look forward to celebrating Vietnam’s WTO accession and starting a new chapter in our trade relations.”

Further details of Vietnam’s accession are available on the USTR website – www.ustr.gov.