{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Anniversary of Vietnam US Bilateral Trade deal' data-url='/boclips/videos/5c54c3cad8eafeecae163e64' data-video-url='/boclips/videos/5c54c3cad8eafeecae163e64' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nAnniversary of Vietnam US Bilateral Trade deal\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eHanoi Recent1. Exterior of Garco garment factory 2. Front door of Garco garment factory 3. Pan of workers sewing shirt 4. Various of workers sewing shirt 5. Set up of Mr Nguyen Huy Quang, Manager of Planning Department 6. SOUNDBITE:...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eHanoi Recent\u003cbr/\u003e1. Exterior of Garco garment factory \u003cbr/\u003e2. Front door of Garco garment factory \u003cbr/\u003e3. Pan of workers sewing shirt \u003cbr/\u003e4. Various of workers sewing shirt \u003cbr/\u003e5. Set up of Mr Nguyen Huy Quang, Manager of Planning Department \u003cbr/\u003e6. SOUNDBITE: (English) Nguyen Huy Quang, Manager of Planning Department, Garco Garment Factory:\u003cbr/\u003e\"In term of amount of garment export, I think the increase is by 300 to 400 percent\" \u003cbr/\u003e7. Workers ironing shirt \u003cbr/\u003e8. Accountant \u003cbr/\u003e9. Mid shot workers laying fabrics \u003cbr/\u003e10. Set up of Mr Le Dang Doanh, Senior Economist in the Ministry of Planning and Investment. \u003cbr/\u003e11. SOUNDBITE: (English) Le Dang Doanh, Senior Economist in the Vietnamese Ministry of Planning and Investment: \u003cbr/\u003e\"Actually implementing the BTA (Bilateral Trade Agreement) is the first important step for Vietnam to prepare for joining the WTO (World Trade Organization).\" \u003cbr/\u003e12. Workers sewing shirt \u003cbr/\u003e13. Mid shot shirt being pressed \u003cbr/\u003e14. Close up shirt \u003cbr/\u003e15. Set up of Ms Virginia Foote, President of the US-Vietnam Trade Council \u003cbr/\u003e16. SOUNDBITE: (English) Ms Virginia Foote, President of the US-Vietnam Trade Council:\u003cbr/\u003e\"There are not many countries left outside the World Trade Organization. Vietnam is one of the handful of countries who are now in the process of acceding to WTO, it's an important goal for the Vietnamese to join WTO and the Bilateral Trade Agreement is a very important step in that.\" \u003cbr/\u003eMekong Delta 8 July 2002 \u003cbr/\u003e17. Catfish farmer \u003cbr/\u003e18. Close up catfish \u003cbr/\u003e19. Catfish farm \u003cbr/\u003eHanoi 6 December 2002 \u003cbr/\u003e20. US Ambassador in Vietnam, Mr Raymond Burghardt arriving in press conference \u003cbr/\u003e21. SOUNDBITE: (English) US Ambassador to Vietnam, Mr Raymond Burghardt: \u003cbr/\u003e\"The more trade you have, the more disputes you have.\" \u003cbr/\u003eMekong Delta 8 July 2002 \u003cbr/\u003e22. Workers cutting catfish \u003cbr/\u003eHanoi 5 December 2002 \u003cbr/\u003e23. SOUNDBITE: (English) Le Dang Doanh, Senior Economist in the Ministry of Planning and Investment:\u003cbr/\u003e\"Both sides, I think must avoid some kind of a trade war to try to retaliate to response in a way of think (sic) and this is not a constructive way\" \u003cbr/\u003e24. Workers in seafood factory \u003cbr/\u003eVietnam celebrates the first anniversary of a historic trade agreement with the United States on Tuesday.\u003cbr/\u003eThe trade deal came into effect on 10 December 2001.\u003cbr/\u003eThe deal capped a lengthy reconciliation period which formally began when then US President Bill Clinton lifted the trade embargo against Vietnam in 1994.\u003cbr/\u003eThe deal gave Vietnam access to US markets under the same low tariffs given to other nations in exchange for\u003cbr/\u003eopening up its markets to foreign competition and international standards.\u003cbr/\u003eOne year after the passage of a landmark trade pact with the United States, Vietnam's largest garment and textile manufacturer, the state-owned Garco Garment Factory, has seen orders from major retailers such as the Gap, JCPenny, Kmart, and Limited Express jump a whopping 400 percent over the last year. \u003cbr/\u003eExports to the US have more than doubled, going from about 750 (M) million US dollars to 1.6 (B) billion US dollars in the first nine months of this year. Fish and seafood jumped by 50 percent. Footwear has increased tenfold while garments and textiles have risen a dramatic 20-fold. \u003cbr/\u003eMeanwhile, US exports to Vietnam rose by about 30 percent, with the top products being cotton, fertilizer and industrial air pumps. \u003cbr/\u003eThe past year's global economic down turn, which resulted in stagnant or decreasing trade with Vietnam's other trading partners, only served to highlight the boom in two-way trade between the US and Vietnam, expected to reach more than 2 (B) billion dollars for the whole year. \u003cbr/\u003eStrong resistance to the trade deal by conservative Communist Party members fearful of opening up Vietnam's markets to global competition sidelined the pact's passage for more than a year before it was finally signed off. \u003cbr/\u003eThe deal put Vietnam on equal standing with most other nations in accessing the world's largest market. Prohibitively high US tariffs immediately dropped from an average of 40 percent to 3 percent. \u003cbr/\u003eAs part of the deal, Vietnam was required to introduce an unprecedented level of economic reform, foreign competition and financial openness into its system. \u003cbr/\u003eThe strict international standards are expected to firmly position Vietnam in its bid to enter the World Trade Organization in coming years. \u003cbr/\u003eHowever, the first year hasn't been without some obstacles, said Deputy Minister of Trade Luong Van Tu. \u003cbr/\u003eImplementation of the trade agreement has been somewhat uneven, and an ongoing trade dispute over charges that Vietnam is dumping catfish at below-market prices in the U.S. has increased tensions, he said. \u003cbr/\u003eOverall, though, Vietnam's chief export industries, especially garments and textile companies, are thriving amid the competition. \u003cbr/\u003eFounded five decades ago during the Communist revolution, Garment Company Number 10 still honors its roots, a black-and-white photo of revolutionary leader Ho Chi Minh visiting the factory in 1959 is framed in the lobby\u003cbr/\u003eBut times have changed, and the state-owned company, in step with the country's move towards a free market economy, has enthusiastically embraced global integration. \u003cbr/\u003eThe U.S. ambassador to Vietnam on Friday praised the year old agreement calling it \"a cornerstone\" of U.S.-Vietnam relations. \u003cbr/\u003eAmbassador Raymond Burghardt said the deal has brought clear benefits to both nations despite the simmering dispute over catfish.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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