News-Info-Alerts

To: ALL

From: Andi Wolos & Bob Necci
(POW-MIA InterNetwork)

Re: With Friends Like This, You Don't Need Enemies

Date: August 29, 1998

No wonder the Jackson-Vanik Amendment was supported by Congre$$.

July 22, 1998

The Honorable Newt Gingrich
United States House of Representatives
Washington, D.C. 20515

Dear Representative Gingrich:

The American business community supports pursuing a policy of economic normalization with Vietnam. We endorse the decision to grant Vietnam a waiver of the "Jackson-Vanik" amendment. The waiver gives American companies selling to Vietnam access to crucial U-S. export promotion program and is an important first step to normalizing trade relations with Vietnam. We strongly oppose H.J. Res. 120, which would overturn the waiver. A vote on this legislation might come during the week of July 27.

Vietnam has met the requirements for a waiver. The Jackson-Vanik amendment is meant to encourage a policy of free emigration in countries with non-market economies. Since the Administration normalized diplomatic relations with Hanoi in 1995, Vietnam has cleared for interview over 80 percent of all remaining applicants of the Resettlement Opportunity for Vietnamese Returnees agreement.

Pending legislation, H.J. Res. 120, would overturn the Jackson-Vanik waiver for Vietnam and deliver a serious setback to U.S.-Vietnam commercial relations. Without the waiver, American companies would be denied access to export promotion programs offered by the U.S. Export-Import Bank and the Overseas Private Investment Corporation. These programs are vital to meeting the challenges of doing business in Vietnam's emerging market.

Overturning the Jackson-Vanik waiver also would derail bilateral negotiations seeking commitments from Vietnam on market access, services, intellectual property and investment. The eventual agreement will bring Vietnamese law closer to international trade norms, thereby helping U.S. companies to tap the long-term potential of the Vietnamese market. If we fail to remain on the path of economic normalization, we risk ceding the potential of that market to competitors in Europe, Japan and elsewhere in Asia.

Finally, overturning the Jackson-Vanik waiver for Vietnam would have important political implications. Vietnam has cooperated with efforts to search for American POWs and MIAs. Cooperation could be jeopardized if the House passes a disapproval resolution.

The American business community believes that a policy of economic normalization with Vietnam is in our national interest. We applaud the House Ways and Means Committee and Senate Finance Committee for reporting unfavorably disapproval resolutions regarding the Jackson-Vanik waiver for Vietnam. We urge you to support economic normalization with Vietnam by voting against H.J. Res. 120.

Sincerely,

Aerospace Industries Association

American Chamber of Commerce, Hanoi

American Chamber of Commerce, Ho Chi Minh City

American Chamber of Commerce, Hong Kong

American Farm Bureau

Asia-Pacific Council of American Chambers of Commerce

Association for Manufacturing Technology

Chemical Manufacturers Association

Coalition for Employment through Exports, Inc.

Electronic Industries Alliance

Emergency Committee for American Trade

Fertilizer Institute

Footwear Distributors and Retailers of America

International Energy Development Council

International Mass Retail Association

National Association of Manufacturers

National Center for APEC

National Foreign Trade Council

National Oilseed Processors Association

Pacific Basin Economic Council-U.S. Member Committee

Securities Industry Association

Telecommunications Industry Association

U.S. Chamber of Commerce

U.S. Council for International Business

U.S. National Committee for Pacific Economic Cooperation

U.S.-Vietnam Business Committee of the U.S.-ASEAN Business Council

U.S.-Vietnam Trade Council

USA*Engage