Vietnam Trade: Time for the Leap

The Clinton Administration’s approach to Asia-Pacific foreign policy--indeed to much of its foreign policy--is to emphasize trade. That being the case, it is only logical and consistent for Washington to now ease the trade embargo against Vietnam, in place since 1975.

Wisely, President Clinton took two preliminary, incremental steps in that direction last year. Now it is time to take the great leap forward. The United States, after all, stands alone in its trading ban against Hanoi. Meanwhile, other nations are rushing in to do business with this Southeast Asian country, which is trying to get itself on a fast track toward economic development and modernization.

Last month Winston Lord, assistant secretary of state for East Asian and Pacific affairs, completed his second 1993 trip to Hanoi. He is the highest-ranking U.S. official to have participated in ceremonies marking the transfer of what are believed to be the remains of eight U.S. servicemen declared missing in action in the Vietnam War. The remains of more than 500 servicemen have now been returned.

The Administration has moved carefully in acting on the trade embargo out of respect for the families of missing U.S. military personnel. It was right to ask the Vietnamese--who have not fully cooperated until recently--to do more to address the unanswered questions in the MIA-POW issue. Lord needs to give Americans an assessment of progress. (On Thursday the United States will launch its biggest search ever in Vietnam for Americans missing in action.) Yet the MIA-POW problem may never be resolved completely, especially for the families of the more 2,000 still unaccounted for in the war.

Balancing these interests against U.S. commercial interests is a delicate matter. In July, the Administration dropped its opposition to loans to Vietnam from the World Bank and the International Monetary Fund. A month later, it eased restrictions on allowing U.S. firms to take part in Vietnamese projects financed by these institutions. Then, two weeks ago, Mobil Corp. became part of a consortium that was awarded offshore drilling rights by Vietnam. But there’s a hitch: The embargo limits Mobil’s participation.

Resuming trade with Hanoi does not require restoring full diplomatic ties. The latter depends on continued cooperation on the MIA-POW issue. The former requires only common sense and an understanding of our economic interest.