"I would like to commend the Senate Finance Committee for approving the U.S.-Peru Trade Promotion Agreement and legislation to authorize the granting of Permanent Normal Trade Relations (PNTR) with Vietnam. I want to thank Chairman Grassley and Senator Baucus for their leadership and support.
"I was in Peru last week for the inauguration of President Alan Garcia and met with his new Trade Minister. I look forward to expanding our strong relationship with Peru.
"The U.S.-Peru TPA is a tremendous opportunity for U.S. exporters. It will give U.S. companies improved access to a strong market and improve the business climate in Peru as the country enacts the necessary domestic legal and business reforms required to implement the agreement. Trade with Peru offers expanded economic opportunities for U.S. manufacturers, workers and farmers. And it offers Peru a chance to boost their economy and attract investment.
"PNTR with Vietnam legislation is of great importance to the U.S. business community. Vietnam’s accession to the World Trade Organization (WTO) and the eventual extension of PNTR to Vietnam paves the way for full U.S.-Vietnam economic normalization that began in 1988 and has continued through to this Administration. The passage of PNTR legislation will ensure that U.S. companies are able to take advantage of benefits that will be granted to all WTO members once Vietnam accedes to the WTO.
"I look forward to working with Congress to advance these issues."
Source: U.S. Department of Commerce
