Trade News:
The United States worked closely with Vietnam throughout 2006 on continued implementation of the Bilateral Trade Agreement (BTA) and conclusion of Vietnam’s accession to the World Trade Organization (WTO). The Joint Committee established by the BTA met most recently in June 2006 to review implementation of the provisions of the BTA.
Vietnam became the 150th member of the WTO on January 11, 2007. As a WTO Member Vietnam has committed to increase market access for U.S. goods and services into Vietnam and establish greater transparency in regulatory trade practices, enhance economic freedoms and establish a more level playing field between Vietnamese and foreign companies.
The Trade Agreement between the U.S. and Vietnam entered into force on December 10, 2001 two-way trade has increased reaching $9.7 billion in 2006.
Vietnam is the United States’ 43rd largest trading partner.
Trade Data:
U.S. goods exports in 2006 were $1.1 billion. Corresponding U.S. imports from Vietnam were $8.6 billion, up 29.2 percent. Vietnam is currently the 66th largest export market for U.S. goods.
The stock of U.S. foreign direct investment (FDI) in Vietnam in 2005 was $291 million, up from $242 million in 2004.
