The
United States and Vietnam in 1999 discussed a trade agreement
that would require Vietnam to fundamentally change the way it relates to the
world. Trade barriers would be lowered, markets opened to competition, the role
of state companies reduced and investment standards raised to international
levels. Vietnam's 77 million people represent an attractive long-term market
for US business. The trade agreement would also give a lift to Vietnam's economy.
Vietnam has seen its foreign investment drop 60 per cent in the first half of
1999 and its economy is flat after years of heady growth. The signing of the
trade agreement was delayed in November by debate in the Vietnam Politburo.
(David Lamb, Los Angeles Times, November 1, 1999)
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