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 World Trade Organization (WTO) partner.
Gary Shapiro, President and CEO, Consumer Electronics Association

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 World Trade 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.”