Agreement Reduces Vietnamese Barriers to Motorcycle Imports and Operation
MILWAUKEE, May 24 /PRNewswire-FirstCall/ -- Harley-Davidson (NYSE: HDI)
motorcycles can one day roll through the cities and countryside of Vietnam,
thanks to an agreement in principle on trade that opens the Southeast Asian
country to more U.S. products.
During the final round of negotiations in the Bilateral WTO Market
Access Agreement between the U.S. and Vietnam, officials of the Office of
the United States Trade Representative were successful in eliminating or
lowering longstanding barriers to Harley-Davidson's market entry in
Vietnam.
In addition to lifting an outright ban on large displacement
motorcycles, Vietnam will adopt a basic and transparent motorcycle
operators licensing system, relax distribution restrictions and reduce
tariffs on heavyweight (650cc-plus engine displacement) motorcycles by 60%
over time.
Harley-Davidson has not yet announced any definitive plans for selling
motorcycles in Vietnam. However, the Company has long been interested in
expanding its presence in Asia and considers market access of the kind
provided by the trade agreement as key to its future expansion into
Vietnam.
In April, 2006, in another move into Asia, Harley-Davidson opened a
dealership in Beijing -- the Company's first dealership in mainland China
since at least prior to World War II. And the Company has long been a major
force in the motorcycle market in Japan, where Harley-Davidson retailed
more than 11,000 motorcycles in 2005. Harley-Davidson first exported
motorcycles to Japan in 1912.
"Harley-Davidson applauds the agreement that USTR reached with the
Government of Vietnam," said Harley-Davidson Vice President of Government
Affairs Timothy Hoelter. "The bilateral WTO Accession Agreement opens up
important new opportunities for Harley-Davidson in the important Asian
region.
"Harley-Davidson has proven time and again that an American company,
American workers and a great American product can compete abroad, given a
more level playing field. With the Vietnam market access agreement, the
team at USTR has shown what can be accomplished through persistence and
determination. We especially congratulate Ambassador Portman and his
colleagues, Ambassador Schwab, Ambassador Bhatia and Assistant USTR Dorothy
Dwoskin on this achievement," Hoelter said.
In 2005, sales of Harley-Davidson motorcycles grew 15 percent
internationally over the prior year. International markets account for
about 20 percent of the Company's annual motorcycle unit sales.
Harley-Davidson, Inc. is the parent company for Harley-Davidson Motor
Company, Buell Motorcycle Company and Harley-Davidson Financial Services,
Inc. Harley-Davidson Motor Company, the only major U.S.-based motorcycle
manufacturer, produces heavyweight motorcycles and offers a complete line
of motorcycle parts, accessories, apparel, and general merchandise. Buell
Motorcycle Company produces sport and sport-touring motorcycles. Harley-
Davidson Financial Services, Inc. provides wholesale and retail financing,
insurance and credit card programs to Harley-Davidson dealers and
customers.
SOURCE Harley-Davidson
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Related links:
http://www.harley-davidson.com
CONTACT:
Bob Klein of Harley-Davidson,
+1-414-343-4433, bob.klein@harley-davidson.com
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