Weekly Update 2006-10-16 Vietnam a WTO Member in December

Keep up-to-date about U.S.-Vietnam trade and investment relations with Weekly Updates.

WTO agreement Oct 13; Working Party Approval Oct 26; General Council, Nov 7; accession in Dec.
On Oct 13, negotiations concluded successfully on Vietnam’s WTO accession. The WTO Working Group on Vietnam’s accession will circulate a draft Report for formal approval at its Oct 26 meeting. Next, the WTO General Council will meet on Nov 7 to approve. Then, Vietnam will become a member 30 days after it has ratified the package and informed the WTO that it has done so.

According to a USTR Fact Sheet, “the U.S.-Vietnam Textile Agreement will expire on the date of Vietnam’s accession to the WTO and quotas under the Agreement will be removed as of that date.”

U.S. apparel importers, retailers oppose Sep 28 USTR/Commerce letter, and may oppose PNTR
U.S. apparel imports from Vietnam account for about one-half of U.S. total imports from Vietnam ($2.9 billion of $6.6 billion in 2005). On Oct 11, a group of U.S. trade associations, apparel importers, and retailers asked that the Bush Administration rescind the commitment in a Sep 28 letter from USTR Schwab and Commerce Secretary Gutierrez to Senators Dole and Graham. They are considering asking a senator to place a hold on the PNTR legislation to prevent approval, if they do not receive written clarification from the administration.

AmCham Networking Events
Mark your calendar for Oct 18 Special Lunch on Post-WTO Information & Communication Technologies Market in Vietnam and the always popular Oct 19 Monthly Lunch on “Consumer Spending Trends in Vietnam, presented by Ralf Matthaes of TNS.

Oct 24 Global Business Leaders: United Technologies President Louis Chenevert, will discuss the company’s broad interests in Vietnam and the ASEAN region. UTC provides a broad range of high-technology products and support services to customers in the aerospace and building industries worldwide, has annual revenues of US$ 42.7 billion and 227,000 employees around the world.

Please click the AmCham Networking Events link to make sure you are aware of the many networking opportunities, and click on REGISTER ONLINE for an efficient registration experience. We schedule lunches so that you can get in and out easily between 12:00 and 1:30 pm, on your lunch hour.

Sec 911 – Housing cost amount eligible for exclusion or deduction – U.S. Citizens
The U.S. Treasury Department issued a notice concerning housing costs eligible for exclusion or deduction by U.S. citizens and Permanent Residents receiving overseas earned income.

AmCham Scholarship Program 2006
The deadline for applications was October 10. Over 800 application forms have been downloaded from www.amchamvietnam.com, and about 500 completed applications received. In partnership with National University of Ho Chi Minh City (NUH), AmCham will grant scholarships to 20 top students of NUH including: University of Polytechnique, University of Natural Sciences, University of Social Sciences and Humanities, Faculty of Economics. Click the above link for more information about this program, which is managed by AmCham’s Human Resources Committee.

American Franchise Business Opportunities in HCM City
On Oct 30-31, the famous training firm, Dale Carnegie, will visit meet with interested companies to find partners to develop their master franchise business in Vietnam. Earlier in October, many AmCham members met with U.S. Commercial Service and franchise firms when they visited Oct 5 (Office 1 Super Store), and Oct 2-3 (Hard Rock Cafe).

Looking for information on AmCham members? Click here to visit the Online Membership Directory. We now have 325 member and associate companies, with over 600 representatives of those companies.

Click on Other Chambers to see other events in HCMC and on Other AmChams in the Asia/Pacific Region if you plan to travel in the region and want to know about networking opportunities in the city(ies) you will visit. AmCham members are welcome to attend member functions at any AmCham in the Asia-Pacific region at local member rates. Be sure to have your AmCham member card with you and your www.amchamvietnam.com member listing up to date.

Review your Benefits and Services, and learn how you can benefit from Networking Online, with about 66,000 visitors and 120,000 page-views per month to www.amchamvietnam.com.

Weather in Vietnam and Western Pacific
Get weather updates and view approaching typhoons from links on this page (satellite views, current and forecast weather, 5-year averages). A new link provides detailed information on 2006 West Pacific Typhoon Season.

Keep up-to-date about U.S.-Vietnam trade and investment relations with Weekly Updates.