MarAd Vietnam Sign New Bilateral Maritime Agreement

Thursday, March 15, 2007
U.S. maritime shippers, carriers and port operators will have far-reaching access to Vietnam’s rapidly expanding markets for transportation services, thanks to a new agreement signed today by U.S. Maritime Administrator Sean T. Connaughton and Vuong Dinh Lam, Vietnam’s national maritime administration chairman. Under the terms of the new agreement, U.S. companies may acquire a controlling 51 percent share in joint venture enterprises, such as partnering arrangements between U.S. and Vietnamese companies. The agreement also allows U.S. companies to take a lead role in providing a wide range of maritime services including cargo agency, cargo documentation, cargo management, ocean freight forwarding, storage and warehouse services, and container station and depot services. Five years after the Agreement is implemented, U.S. companies will be permitted to establish their own companies and offer a full range of shipping services without having to include a Vietnamese partner. Prior to the agreement U.S. companies were restricted to minority holdings in Vietnamese companies. The agreement builds upon other Administration initiatives to deepen U.S.-Vietnam economic relations, including last year's trade agreement between the two countries, Connaughton added.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Coast Guard

Hijacked Singaporean Ship Released in Nigeria

The crew of a Singapore-registered container vessel, Safmarine Kuramo, hijacked off the Nigerian Coast earlier this week, were released unharmed on Saturday (Feb

USCG Issues Zika Virus Precautions

Recently, the World Health Organization designated the Zika virus as a global public health emergency. This has prompted questions from the maritime industry regarding

Honda Marine, BRIG USA Ink OEM Deal

Honda Marine, a division of American Honda Motor Co., Inc. and marketer of a complete range of outboard marine 4-stroke engines, announced today a new OEM agreement with BRIG USA.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0691 sec (14 req/sec)