July 28,1999

Roth Reaction to U.S.-Vietnam Agreement in Principle

WASHINGTON -- Senate Finance Committee Chairman William V. Roth, Jr. (R-DE) today released the following statement on the United States and Vietnam agreement in principle:

"I am pleased that negotiators for the United States and Vietnam have arrived at an agreement in principle on the terms of a bilateral trade agreement. I am looking forward to thoroughly reviewing the details of any formal Bilateral Commercial Agreement and a mutual grant of Normal Trade Relations between our two countries.

"The people of the United States and Vietnam both stand to gain if they are allowed to trade with one another through an agreement that provides for reciprocal market opening. As Chairman of the Finance Committee, I intend to look closely at the terms of a final package to ensure that Vietnam allows U.S. producers to sell our goods, services, agriculture, and intellectual property to the Vietnamese people.

"When the President submits an agreement to the Congress, the Finance Committee will carefully review it to determine whether it is commercially viable and meets the criteria set forth in Sec. 405 of the Trade Act of 1974. If these criteria have been met, I will work with the Finance Committee, the Senate, and in particular, the supporting Senators who are Vietnam Veterans, to ensure the passage of a joint resolution of approval."