U.S. to Remove Vietnam's Textile and Apparel Quotas When it Joins the WTO (Removal Does Not Hinge on PNTR)
According to U.S. government sources, the quotas imposed on textile and apparel from Vietnam will be removed on the date that Vietnam becomes a member of the World Trade Organization (WTO).
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This membership date will be 30 days after Vietnam has informed the WTO that it has ratified its accession package domestically.
(See ITT's Online Archives or 11/08/06 news 06110810 where it was stated that the President must sign into law permanent normal trade relations (PNTR) legislation before these quotas would be removed. However, trade sources state that the U.S. committed to remove the textile and apparel quotas upon accession to the WTO in the May 2006 WTO Bilateral Market Access Agreement between the U.S. and Vietnam, so PNTR is no longer the prerequisite for quota removal. (See ITT's Online Archives or 06/02/06 news, 06060205, for BP summary of U.S.-Vietnam WTO bilateral market-access agreement.))
Vietnam Approved its Accession Package on November 28, 2006
According to press and trade reports, Vietnam approved its accession package domestically on November 28, 2006. (On November 7, 2006, the WTO's General Council approved Vietnam's WTO membership.)
No Word Yet on When Vietnam Notified the WTO of its Approval of Accession Package
However, it is not yet known if Vietnam has notified the WTO that its accession package has been approved domestically. Vietnam will become a WTO member 30 days after that notification date.