to Vietnam recently I believe this is significant for the
consumer electronics industry, as well as for all industries
seeking a competitive edge with an important World Trade
Organization (WTO) partner.
Gary Shapiro, President and CEO, Consumer Electronics
President Bush signed legislation
yesterday granting Permanent Normal Trade Relations (PNTR) to
Vietnam. Manufacturers of consumer electronics stand to gain
much from more open, reciprocal trade.
In a statement issued Thursday, the Consumer Electronics
Association President and CEO Gary Shapiro congratulated
President Bush and Congress for approving the legislation. "[The
trade legislation] not only benefits the American consumer, but
also creates economic opportunity between our country and
Vietnam," said Shapiro. "Having been to Vietnam recently I
believe this is significant for the consumer electronics
industry, as well as for all industries seeking a competitive
edge with an important
Organization (WTO) partner."
Shapiro added that consumers and industries alike will benefit
from Vietnam’s membership in the WTO and urged Vietnam to join
the Information Technology Agreement (ITA), saying significant
tariff elimination in this crucial sector of the economy will
result. "As most information technology products already enter
the United States duty-free, this will establish a more
balanced, reciprocal trade relationship.”
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