[Vnbiz] Senate to start on Vietnam, Peru trade bills

[Phan, Tai]

Senate to start on Vietnam, Peru trade bills  
 


WASHINGTON (Reuters) - The        Senate Finance Committee granted U.S. business groups two wishes on Tuesday by announcing plans to begin work on Vietnam and Peru trade bills later this week. 

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Business groups have been worried the trade bills could fall victim to the tight legislative schedule ahead of the U.S. congressional elections in November.

The collapse of world trade talks in Geneva on Monday also has intensified interest in showing the rest of the world the United States has other trade options.

Republicans on the        House of Representatives Ways and Means Committee last week pushed through a draft bill to implement a free trade agreement with Peru, with Democrats voting no.

Senate Finance Committee action on Thursday would set the stage for Congress to move toward final votes on the Peru agreement after the August congressional recess.

However, some observers believe a vote could be delayed until a lame duck session after the November elections because of strong opposition to the Peru pact.

Business groups want congressional approval of a bill establishing "permanent normal trade relations" with Vietnam as soon after the August recess as possible.

That's driven partly by Hanoi's desire to be a member of the        World Trade Organization by the time it hosts the annual        APEC summit meeting in November. That requires the United States to approve PNTR.

Senate Finance Committee action would be a step toward that goal. House Republicans have indicated they may not take up Vietnam until after the Peru bill is done.