Minister Nguyen Hong Dien works with Chairman of the US Trade Subcommittee Adrian Smith

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.

Minister of Industry and Trade Nguyen Hong Dien works with Congressman Adrian Smith (Nebraska, Republican Party)

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 hopes to establish practical cooperation mechanisms with the state of Nebrashka 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 Nguyen Hong Dien hopes to establish practical cooperation mechanisms with the state of Nebraska, USA.

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 at the same time act as a bridge to promote cooperation between Vietnam and the United States in general and with Nebraska in particular, especially in areas where Nebraska has strengths such as agriculture, aviation and biotechnology.

Overview of the working session

The Minister shared some 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 thanked and appreciated the working trip and message of Minister Nguyen Hong Dien and emphasized and expressed his belief that, based on recent positive developments, the two countries can completely promote trade cooperation, contributing to bilateral relations.

The Chairman of the US Trade Subcommittee emphasized his hope that the two countries would soon complete negotiations on a trade agreement.

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 reciprocal trade agreement between Vietnam and the United States, and that this agreement will have positive value for economic and trade cooperation between the two countries,” the Chairman of the US Trade Subcommittee emphasized.

Tags: Minister Nguyen Hong Dien

Source: https://moit.gov.vn/tin-tuc/bo-truong-nguyen-hong-dien-lam-viec-voi-chu-tich-tieu-ban-thuong-mai-hoa-ky-adrian-smith.html