(Clinton) Today I am announcing the normalization of diplomatic relationships with Vietnam.
The road to normalization began in the 1980s.
In 1991, the U.S. presented Hanoi with a “roadmap” for phased normalization but initial exchanges were limited to war legacy and humanitarian issues.
In 1994, President Clinton lifted the trade embargo on Vietnam, which was the last major step toward official normalization.
On July 11th, 1995, the two countries normalized ties, an event that represented decades of effort by diplomats and leaders in both nations.
(Clinton) May our children learn from us that good people, through respectful dialogue, can discover, and rediscover their common humanity. And that a painful, painful past can be redeemed in a peaceful and prosperous future.
Since then, Vietnam has integrated itself into the global community, building good relations and expanding trade with its neighbors and the U.S.
The two countries reached a landmark trade agreement in December 2001.
Total trade has since increased nineteen hundred percent from one-point-five billion dollars in 2001 to thirty billion dollars in 2013.
Entry to the WTO and the declaration of permanent normal trade relations with the U.S. have brought the two nations’ economies closer.
They have also moved closer together culturally.
In 2001, the first wave of Vietnamese students came to study in the U.S. with congressional funding. Vietnam now sends the most students to the U.S. among Southeast Asian countries, and is the fourth largest source country in Asia.
U.S.-Vietnam relations have grown into a broad set of strong ties. They cooperate on political and security issues. Trade steadily increases. Cultural and educational exchange is robust. And they cooperate on improving global health and the environment.
The U.S. is viewed with remarkable positivity in Vietnam—as a source of excellence in technology, business, and education.
The future looks bright for the U.S. and Vietnam. As the Trans-Pacific Partnership becomes established, mutual interests will continue to bring the two nations closer together.
And the establishment of the Fulbright University Vietnam, highly anticipated by both governments, will make history by establishing a new model for a private university in Vietnam and promises even stronger educational ties between the two countries.
Indeed, the future of this relationship holds the promise of prosperity for both nations and for a more stable and secure Asia.