Vietnam Us Trade Agreement

The result was a misguided optimism that such an agreement with Vietnam was on the brink. For a wide variety of reasons, it wasn`t, and the idea evaporated. Two years later, there are no free trade negotiations with Vietnam or partners in Southeast Asia. There have been some preliminary discussions with the Philippines, but they need to move forward. 1. The parties agree to hold periodic consultations to verify the operation of this agreement. 2. The parties agree, at the request of a party, to consult immediately, by appropriate means, agreed consultations to discuss any issues relating to the interpretation or implementation of this agreement and other relevant aspects of relations between the parties. 3. The contracting parties agree to establish a joint committee (“committee”) for the development of economic and trade relations between Vietnam and the United States of America.

The committee`s tasks are to: A. monitor and ensure the implementation of this agreement and make recommendations for achieving the objectives of this agreement; B. Ensure that a satisfactory balance of concessions is maintained for the duration of this agreement; C. as an appropriate channel through which the parties consult at the request of either party to discuss and resolve issues arising from the interpretation or implementation of this agreement; D. the search for an improvement and diversification of economic and trade relations between the two countries. 1. The parties agree to consult without delay, at the request of one of the contracting parties, the actual or foreseeable imports of products originating from the other contracting party resulting in or threatening to cause significant disruption to the market. Market disruptions within a domestic sector occur when imports of an item, such as or directly from a product manufactured by that domestic industry, increase rapidly, either in absolute or relative terms, in order to be a significant cause of significant harm or threat to that domestic industry. The purpose of the consultations in this paragraph is: (a) to determine the factors associated with such imports that cause or cause or cause or cause significantly, undue or significantly, and (b) to find ways to prevent or eliminate such market disruptions. These consultations are concluded within 60 days of the date of the request for such consultations, unless the parties agree otherwise.