Ministry of Industry and Trade works with US agriculture and semiconductor industry

Representatives of US businesses highly appreciated Vietnam's proactive, good-willed and consistent persistence in trade negotiations with the US, demonstrating a clear policy foundation.

Minister of Industry and Trade Nguyen Hong Dien works with leaders of businesses belonging to the US Semiconductor Industry Association. (Photo: Ministry of Industry and Trade/Vietnam+)

During his working trip to the United States, Minister of Industry and Trade Nguyen Hong Dien had a working session with representatives of enterprises in the agricultural and semiconductor industries to promote bilateral trade and share information on Vietnam's efforts in the negotiation process of the Vietnam-US Reciprocal Trade Agreement.

On the morning of November 13, US time, in Washington DC, Minister of Industry and Trade Nguyen Hong Dien had a working session with Congressman Adrian Smith (Nebraska, Republican Party), Chairman of the Commerce Subcommittee, US Congress , representing the voice of the US agricultural sector.

At the meeting, Minister Nguyen Hong Dien discussed the potential, prospects and results of cooperation between Vietnam and the United States in general, and with the state of Nebraska in particular. The Minister said that since the beginning of the year, after Vietnam and the United States initiated reciprocal trade tax negotiations, Vietnam has committed to importing many products from the United States.

Vietnamese businesses are interested in high-quality corn from localities in the United States, which is a source of raw materials for seed production and ethanol processing for biofuel production - an important direction in the sustainable energy development strategy. Nebraska's beef products are popular with Vietnamese consumers. The Minister of Industry and Trade hopes to establish practical cooperation mechanisms with Nebraska in areas of mutual interest, contributing to further strengthening bilateral economic and trade relations.

Since the beginning of the year, Vietnam has increased cotton imports by 126%, seafood by 8%, corn and soybeans by 35%. Vietnam has also officially signed contracts to buy many aircraft from the United States.

Minister of Industry and Trade Nguyen Hong Dien works with Congressman Adrian Smith (Nebraska, Republican Party). (Photo: BCT/Vietnam+)

Currently, the US and Vietnam have a trade balance imbalance, but Minister Nguyen Hong Dien said that if the US soon removes Vietnam from the D1 D3 list (a group of countries with restricted access to high-tech products from the US), it will be an important foundation to help the two countries' trade soon reach balance.

The Minister expressed his hope that Congressman Adrian Smith, with his strong political influence in the Republican Party and deep understanding of trade and agricultural issues, would speak up in support of Vietnam in the negotiation process, and act as a bridge to promote cooperation between Vietnam and the United States in general and with the state of Nebraska in particular, especially in areas where Nebraska has strengths such as agriculture, aviation and biotechnology.

The Minister of Industry and Trade also shared a number of issues surrounding the current reciprocal trade negotiations and suggested that Congressman Adrian Smith, with his prestige in US politics, would speak out to promote the two countries to soon conclude negotiations with positive results.

Congressman Adrian Smith highly appreciated the working trip and message of Minister Nguyen Hong Dien and expressed his belief that, based on recent positive developments, the two countries can completely promote trade cooperation, contributing to bilateral relations.

Minister Nguyen Hong Dien hopes to establish practical cooperation mechanisms with the US state of Nebraska. (Photo: Ministry of Information and Communications/Vietnam+)

The Chairman of the US Trade Subcommittee highly appreciated Vietnam's efforts to balance trade, especially the purchase of corn as raw material to create Ethanol to blend biofuel products. He said he had visited Vietnam's agricultural and seafood facilities and clearly saw the potential for importing raw materials from the US for agricultural production.

“I really hope that the two countries will soon complete negotiations on the Vietnam-US reciprocal trade agreement and that this agreement will have positive value for economic and trade cooperation between the two countries,” the Chairman of the US House of Representatives Trade Subcommittee emphasized.

Vietnam has a clear policy foundation.

On the same afternoon, Minister of Industry and Trade Nguyen Hong Dien had a working session with leaders of businesses belonging to the Semiconductor Industry Association of the United States led by Mr. John Neuffer, President and CEO of the Semiconductor Industry Association of the United States (SIA).

Speaking at the meeting, Minister Nguyen Hong Dien highly appreciated the role of the US Semiconductor Industry Association in promoting cooperation, shaping policies and leading innovation in the semiconductor sector. The Minister said that the Party and State of Vietnam have identified science and technology, innovation and digital transformation as key growth drivers, including semiconductors, artificial intelligence, big data and green technology as strategic industries that play a decisive role in the future economic structure.

The Vietnamese Government has approved the Semiconductor Industry Development Strategy to 2030, with a vision to 2045, with three pillars of development. The Minister proposed that the US Semiconductor Industry Association cooperate in priority areas, first of all in human resource development and advanced training, technology transfer, investment cooperation and research and development, supply chain development and semiconductor support industry, etc.

The Minister also proposed cooperation in studying policy and institutional framework amendments, supporting policy dialogue between the two governments, especially the relaxation of regulations on high-tech transfer, an important step to create a favorable legal corridor for deeper cooperation in technology.

Mr. John Neuffer assessed Vietnam as a very important "link" in the global supply chain and the semiconductor industry. Vietnam is taking the right steps in the semiconductor industry by quickly launching a national strategy for the semiconductor industry.

Also during the meeting, representatives of business leaders of the US Semiconductor Industry Association shared deeper insights into the prospects for cooperation with Vietnam in the context of the strong shift in the global semiconductor supply chain. Many business leaders emphasized that they saw long-term growth potential in the Vietnamese market and wished to strengthen and expand cooperation with ministries, branches and training institutions, while seeking opportunities to connect more deeply into the domestic industrial ecosystem.

Minister of Industry and Trade Nguyen Hong Dien and Mr. John Neuffer, President and CEO of the Semiconductor Industry Association of the United States. (Photo: BCT/Vietnam+)

Business representatives highly appreciated Vietnam’s proactive, good-willed and consistent approach to trade negotiations with the United States. This approach creates trust and a clear policy foundation for US businesses when developing strategic investment plans in Vietnam, while contributing to the balance in bilateral trade relations.

Minister Nguyen Hong Dien acknowledged the cooperation results and recommendations of US semiconductor enterprises. The Minister also exchanged some information on the negotiations of the Reciprocal Trade Agreement and suggested that enterprises have a voice and influence with the US Government as well as relevant agencies to promote a more flexible and practical approach in the negotiations, helping to quickly conclude and achieve the most positive results in the negotiations./.

Source: https://baolangson.vn/bo-cong-thuong-lam-viec-voi-nganh-nong-nghiep-cong-nghiep-ban-dan-hoa-ky-5065030.html