President George W. Bush Wednesday signed legislation that includes a bill granting Permanent Normal Trade Relations (PNTR) to Vietnam.

"With this bill, America will broaden our trade relations with Vietnam. It's going to help the Vietnamese people build a strong economy that's going to raise their standard of living," said Bush.

He also said trade is an engine of economic growth, adding the best way to increase global prosperity is "to open markets to free and fair trade."

"This comprehensive legislation, approved with broad bipartisan support in Congress, underscores the United States'commitment to advancing trade policies that benefit all Americans while also promoting economic development," said U.S. Trade Representative Susan C. Schwab in a statement.

The U.S. Congress gave its final approval to the Vietnam trade bill on Dec. 9. The legislation Bush signed on Wednesday also extends or broadens four trade preference programs that have helped spur economic growth and alleviate poverty in developing countries.