Experts discuss possible impact of new US trade policies

Hanoi (VNA) - The Vietnam Chamber of Commerce and Industry (VCCI) and the
Miller&Chevalier Chartered Law Company held a meeting in Hanoi on March 3 to
discuss the new US trade policies and their potential ramifications for Vietnam
.

During the meeting, legal expert Jay Eizenstat briefed the attendees on the US 's
trade priorities under the Obama administration and their probable impact upon
Vietnam 's exports to the country, as well as Vietnam 's possible inclusion in
the US's Generalised System of Preferences (GSP).

He predicted that the Obama administration would continue to pursue its open trade
policies, with a particular focus on negotiating bilateral partnership agreements.


"There is good reason to be hopeful for Vietnamese exporters and manufacturers
because there is actually quite a positive view of Vietnam in most corners of
the US community," Eizenstat said.

He added that the US business community has shown considerable enthusiasm and
support for deepening the bilateral economic-trade relationship between the two
countries.

According to Eizenstat , Vietnam should consider entering into the
Trans-Pacific Partnership Agreement (TPP), a mechanism intended to increase
competitiveness among its members and bolster trade, investment and economic
development across the region.

In the near future, Vietnam needs to seize the opportunity that will be created
if the US government reconsiders the granting of GSP status. If Vietnam
gains GSP status, its will be able to increase its export turnover by a
considerable margin, thus enjoying equity with other developing nations when
entering the US market.

Eizenstat also recommended that Vietnamese producers and exporters ensure that
they properly price exports to the US , abide by US law and maintain a
transparent and open relationship with US importers.-Enditem