U.S. Senate Approves Trade Pact With VietnamThe U.S. Senate on Wednesday voted 88-12 to approve a bilateral trade agreement with Vietnam, paving way for President George W. Bush to sign the bill into law.The House of Representatives adopted the bill on September 6 by a voice vote. The agreement, signed in Washington in July last year after four years of negotiations, is designed to normalize trade relations between the two Cold War rivals. Under the agreement, Vietnam, with a population of 80 million, will dismantle a wide range of trade barriers, open its service markets to U.S. businesses and investors, and provide comprehensive protection of intellectual property rights. In return, the U.S. will grant Vietnam the same trade status as most other U.S. trading partners. |
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