U.S., Vietnam hold first meeting under trade facilitation agreement

U.S., Vietnam hold first meeting under trade facilitation agreement

U.S. and Vietnam trade officials on Monday held the first ministerial-level meeting between the two countries under the U.S.-Vietnam Trade and Investment Framework Agreement.

   U.S. Trade Representative Susan Schwab met with Minister Nguyen Xuan Phuc, chairman of Vietnam’s Office of Government, with the meeting focused on Vietnam's implementation of its WTO commitments as well as ways to further deepen trade and investment relations between the United States and Vietnam.

   'We are pleased with Vietnam's progress to date in implementing its WTO commitments and domestic reform agenda, which have generated striking economic gains and steadily enhanced Vietnam's regional and global economic competitiveness,' Schwab said.

   She also urged Vietnam to take additional steps to improve its enforcement of intellectual property protection.

   The two ministers discussed agriculture, telecommunications, textiles, and other trade and investment issues, as well as Vietnam's requests for further technical assistance to support its reform efforts. Two-way goods trade between the United States and Vietnam totaled $10.2 billion during the first 10 months of 2007, an increase of 25 percent over the same period the previous year.