APL EXPANDS PRESENCE IN HO CHI MINH CITY
APL, the container shipping and logistics arm of the NOL Group, has expanded into new offices in Ho Chi Minh City, in anticipation of a bilateral trade agreement between the United States and Vietnam.
APL has had a presence in Vietnam since 1994, four days after the U.S. trade embargo with Vietnam was listed.
The United States is expected to implement a bilateral trade agreement with Vietnam in the coming weeks. On Thursday, the U.S. House voted 324-91 to reject a resolution that would have disapproved President Bush's waiver of requirements affecting Vietnam's eligibility for export financing. The waiver needs to be in place for Vietnam to receive lower tariffs that will come once Vietnam has Normal Trade Relations status.
The NOL Group is also a partner in the joint venture that opened the Vietnam International Container Terminal, the country's first modern container terminal.