Vietnam's business delegation assembles in US for briefing on business opportunities

22 Jun '05

3 min read

Former U.S. Deputy Secretary of State Richard Armitage told a delegation of 200 Vietnamese business leaders that the U.S. government's strategic interests in Vietnam will mean more and better opportunities for bilateral business and trade relations.

Armitage delivered the keynote address at a half-day briefing organized by international trade law firm Sandler, Travis & Rosenberg, P.A. (ST&R) and the Vietnam Chamber of Commerce and Industry, which also featured a panel of distinguished U.S. government officials, international trade experts, and economists.

ST&R senior attorneys and advisors also spoke at the briefing, emphasizing specific issues of particular importance to the U.S.-Vietnam trade relationship. Ambassador Ronald J. Sorini, ST&R's President of Trade Negotiations and Legislative Affairs, drew attention to Vietnam's importance as a textile and apparel-sourcing destination for major U.S. retailers, despite the fact that imports from Vietnam continue to be subject to quotas.

Those quotas will be lifted once Vietnam joins the World Trade Organization, but Sorini warned that U.S. textile makers will likely push for safeguard provisions similar to those in China's WTO accession agreement. Jessica Wasserman, Of Counsel to ST&R, discussed U.S. rules and regulations on agricultural and food products, which have become a major source of export earnings for Vietnam.

That very success, Wasserman said, has already led to various problems for Vietnamese exporters, including antidumping duties on certain fish and shrimp and phytosanitary restrictions on products such as poultry, nuts, and fruits.

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