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US economy, security to suffer without new China trade ties

Clinton says on granting PNTR to Beijing
WASHINGTON. Mar 30: President Bill Clinton yesterday warned Congress that both the economy and national security of the United States would be endangered if it failed to grant pennanent trade privileges to China, reports AFP.
"There is no more Important long-term economic or national security issue facing us today." Clinton said in a nationally televised press conference.
"Congress should pass permanent normal trade relations (PNTR) with China this spring." he said.
If lawmakers refuse to give China the same trade privileges accorded by Washington to all but a handful of countries, he warned, "the economic consequences will be bad."
"The national security consequences will be worse."
Administration officials, who say the president Is preoccupied with winning the Congressional vote on China trade, acknowledge they face an uphill battle.
Their task has been complicated of late by renewed Chinese threats against Taiwan, which strengthens the hand of antiChinese forces in Congress. But Clinton on Wednesday said that if US-Chinese relations had reached, "a critical stage." it was primarily because of the trade issue.
Congress must approve permanent normal trade relations for China if a landmark accord signed last November with Beijing is to take effect. Under
terms of the deal. China agreed to lower tariffs on US goods and to take other market-opening measures.
In exchange. Washington agreed to back China’s bid to Join the World Trade Organisation. But Beijing made It clear that the concessions It offered were dependent on Congressional approval of normal trade relations on a permanent basis.
At present. China's trade privileges are reviewed annually by Congress.
The administration now fears that if PNTR Is rejected. China will go ahead and Join the WTO anyway, making the
KAFCO maintains high productivity The KAFCO Board met at the Sonargaon Hotel Wednesday and congratulated the management on the achievement of high productivity over the last 18 months, says a press release.
In the October 1998 to January 2000 period. KAFCO produced 680.413 tons of ammonia and 825.409 tons of granular urea.
During this period, the ammonia plant ran at full capacity (1500 tons/day) while the urea plant at 106 per cent of design capacity (1 725/day).
The KAFCO Board also discussed the progress of financial restructuring, which is moving well and is expected to be completed by August.
market-access measures It negotiated with the United States available to Washington's competitors. notably Canada and the European Union.
Under such circumstances. US exporters will be left out In the cold.
Granting permanent trade privileges to China Is opposed Dy many lawmakers, notably in Clinton's own Democratic Party.
Clinton and members of his cabinet have repeatedly described last November's accord as a one-sided victory for the United States, arguing that all the concessions will come from China.
The president on Wednesday characterised the agreement as a " 100-to-nothing deal for America."
"This requires us to take no further action on our part to lower tariffs or open markets." he said.
By contrast. China has committed-itself not only to lower tariffs but to such steps as opening up telecommunications to foreign investment and to authorising the sale of US-made cars on its domestic market, Clinton maintained.
House for swift
China vote
Meanwhile, a Reuter report says: Top Republicans in the US House Representatives said yesterday they would press for a May vote on a landmark trade agreement with China, after White House officials and their congressional allies warned
(hat foot-dragging could scuttle the pact.
The chairman of the powerful House Ways and Means Committee, Bill Archer, said the leadership would "make every effort" to schedule a vote before May 29. when Congress leaves for Its weeklong Memorial Day recess.
House Speaker Dennis Hastert told top Republicans in a private meeting earlier this week that he wanted to set a date as soon as possible, according to Republican Conference Chairman JC Watts. "The speaker wants to do that," Watts of Oklahoma said. "1 think that's where we're headed."
An announcement could be made as early as next week.
Ikra to market
Union Tea
Ikra Marketing Ltd will market and distribute Union Tea.
An agreement to this effect was signed between the Union Tea Co Ltd and Ikra Marketing Ltd in the city recently, says a press release.
Nasrin Kabir, Managing Director of Union Tea Co Ltd. and Rahbar A Anwar, Managing Director of Ikra Marketing Ltd. Initialled the accord on behalf of their respective companies.
Vietnam tourism jumps 14 pc in first quarter
HANOI. Mar 30: Communist Vietnam has received 530,000 foreign visitors so far this year, a jump of 14 per cent over the first quarter of 1999, official media reported today, reports Reuters.
The Vietnam New Agency in a report seen by Reuters' on Thursday said a national programme had been launched to boost foreign arrivals — holidaymakers and businessmen.
It plans to receive two million foreign visitors this year, up from 1.7 million arrivals in 1999.
Vietnam, In the middle of two months of festivities celebrating the 25th anniversary of the end of the Vietnam War on April 30, has seen solid growth In tourism since it opened up to the outside world in the late 1980s.
Bui foreign visitors have long complained about a dual-pricing system that means foreigners pay more for public transport and hotel accommodation.
Many industry executives have also said Vietnam would attract more tourists if it scrapped visa requirements.