May 31,2006

Grassley on the Signing of the U.S.-Vietnam Bilateral Trade Agreement

M E M O R A N D U M

To: Reporters and Editors
Re: United States-Vietnam bilateral trade agreement
Da: Wednesday, May 31, 2006

Sen. Chuck Grassley, chairman of the Committee on Finance, with jurisdiction over
international trade, today made the following comment on the signing of the United States-Vietnam
bilateral trade agreement. For the deal with the United States to come into effect, the U.S. Congress
must grant permanent normal trade relations tariff treatment to products of Vietnam. In addition,
Vietnam must conclude multilateral negotiations on a Working Party Report and Protocol of
Accession that details how Vietnam will conform to its obligations as a member of the World Trade
Organization. Grassley made the following comment on today’s signing.

“This is an important development. U.S. agricultural producers, manufacturers, and service
providers stand to benefit from having greater access to Vietnam’s large and growing economy. In
addition to improved market access, this agreement will help Vietnam join our rules-based
international trading community. Several of my fellow senators are very interested in extending
permanent normal trade relations to Vietnam. Some senators may have specific concerns about
Vietnam, such as in the area of respecting religious freedom. I’ll work with my colleagues to hear
their views and advance U.S.-Vietnam trade relations this year.”