Vietnam - U.S. Trade, 2001-2010

Click here to see VN-US Trade before BTA, 1996-2000.

Click here to go to source of data: US Department of Commerce.

Click here for Vietnam’s total exports in 2006 (VN General Statistics Office)

Click here for Vietnam’s total imports in 2006 (VN General Statistics Office)

If present trends continue, Vietnam-U.S. trade by 2010 may reach US$ 16 billion a year, while the U.S. trade deficit with Vietnam may be over $14 billion.

Balance

The Bilateral Trade Agreement indicates that there should be a balance of “market access opportunities” and “concessions.”

“The Parties shall seek to achieve a satisfactory balance of market access opportunities through the satisfactory reciprocation of reductions in tariffs and nontariff barriers to trade in goods resulting from multilateral negotiations.”—U.S. – Vietnam Bilateral Trade Agreement, July 13, 2000 Chapter I, Article 3. General Obligations with Respect to Trade.

“The Parties agree to establish a Joint Committee (“Committee”) on Development of Economic and Trade Relations between Vietnam and the United States of America. The Committee’s responsibilities shall include the following: B. ensuring that a satisfactory balance of concessions is maintained during the life of this Agreement;”—Chapter VI, General Articles, Article 5. Consultations.