Ha Noi (VNA) – Viet Nam-US commercial ties have seen positive steps, said Deputy Trade Minister Le Danh Vinh on November 5.
Deputy Minister Vinh made the statement while he worked with a delegation of US businesses, who accompany the US Commerce Secretary Carlos M. Gutierez on a visit to Viet Nam .
According to Vinh , Viet Nam ’s accession to the WTO and the US Congress's approval of permanent normal trade relations (PNTR) with Viet Nam have opened many opportunities for trade between businesses of the two countries, and therefore, US businesses have paid increasing attention to the Vietnamese market. The on-going visit by the US Commerce Secretary and businesses is an obvious evidence, he added.
Viet Nam-US relations have seen progress in various fields, particularly in economy and trade. Two-way trade has grown rapidly, especially since the Viet Nam-US Bilateral Trade Agreement (BTA) became effective by the end of 2001. The trade value increased from 454 million USD in 1995 to 1.48 billion USD in 2001 and 5.8 billion USD in 2003. The figure is expected to exceed 11 billion USD in 2007.
The US ’s direct investment into Viet Nam in the past 8 years was about 4 billion USD, of which 3.3 billion USD has been disbursed.
The number of US businesses operating in Viet Nam has increased rapidly to more than 1,000. They include many world leading companies, such as Citi Group, Boeing, GE, Microsoft, IBM, Intel, Coca Cola and Pepsi Cola.
The US businesses have established two commercial chambers in Viet Nam , Amcham Hanoi and Amcham Ho Chi Minh City.-Enditem
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