Vietnam, U.S. Hold 3rd Negotiation Round on Investment Treaty

Vietnam and the U.S. held the third round of negotiations on the Bilateral Investment Treaty (BIT) in Washington DC between November 17-19, the Communist Party of Vietnam said on its website.

 

The Vietnamese delegation, led by the Ministry of Planning and Investment, consisted of representatives from the Ministries of Justice; Industry and Trade; Information and Communications, the State Bank of Vietnam, and the National Committee for International Economic Cooperation.

 

The U.S. mission, headed by the Department of State and the Office of the United States Trade Representative (USTR), included delegates from the Department of Commerce and the Department of Treasury.

 

At the meeting, the two sides reviewed and exchanged views on provisions of the BIT to prepare for the next negotiation rounds.

 

The Vietnamese officials gave further discussions to the contents proposed by the U.S. in the BIT, feasibility of some regulations, particularly those relating to transfer of money, financial services and disputes among investors.

 

The U.S. delegation provided a clear explanation of the goals and requirements in the BIT and also discussed Vietnam’s of legal and practical issues relating to the application of BIT.

 

The U.S. delegation proposed the next round of negotiations take place in Vietnam early 2010, while the Vietnamese side said it will give early response to the U.S.’s proposal. (CPV, People’s Army)