U.S. wary of Vietnam's rags to riches
The Bush administration is pushing to set limits on
Vietnam's textile and garment sales to the United
States, out of fear that a surge in exports following a
new bilateral trade agreement could harm American
manufacturers. During talks with trade officials in Hanoi
on August 26 and 27, U.S. Assistant Secretary of
Commerce for Trade Development Linda Mysliwy
Conlin proposed that talks begin promptly on a textile
pact between the two countries.
Otherwise, the U.S
might impose a quota to combat a possible flood of
exports. "It is in the best interest of importers and
investors that the environment be very predictable,"
Conlin told the Review. "[Instead of] unilateral
restraint, it's much better to have a common
understanding, engage in negotiations, and have a good,
sound agreement." But no date has been set for the
negotiations and some Vietnamese officials fail to
perceive any threat to American interests. "Vietnam's
industry is at a low level of development and the
amount of textiles exported to the U.S. is very small,"
says Nguyen Duc Hung, Vietnam's vice-minister of
foreign affairs.
Indeed, Vietnamese goods comprise less
than 1% of the U.S.'s total imports of textiles and
garments. But American industry leaders are getting
nervous over evidence of rapid growth, says Conlin.
Boosted by the bilateral trade agreement, Vietnam's
textile and garment exports to the U.S. from January to
June 2002 reached $184 million, compared to $27
million in the first six months of 2001.
The Far Eastern Economic Review - August 29, 2002.
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