Special Envoy of the Prime Minister, Minister of Industry and Trade, Nguyen Hong Dien worked with Head of ...

This is the first important, direct and official working session at the Ministerial level between the two countries since the United States had a new Administration.

At the beginning of the meeting, the two sides expressed their delight at the fact that after 30 years of establishing diplomatic relations, 10 years of establishing a comprehensive partnership and 2 years of upgrading relations to a comprehensive strategic partnership, the relationship between the two countries has been developing increasingly positively and steadily in all fields. In particular, the economic - trade - investment pillar plays a key role in promoting the overall bilateral relationship. Bilateral trade turnover in 2024 will reach nearly 150 billion USD, the United States will become the second largest trading partner and one of the most important export markets of Vietnam.

Minister Nguyen Hong Dien affirmed that Vietnam always considers the United States a leading important partner, and wishes to promote the comprehensive strategic partnership between the two countries to develop strongly, substantially, deeply and sustainably, contributing to enhancing understanding and strategic trust between the two countries.

Minister Nguyen Hong Dien said that the economies and import-export commodity structures of Vietnam and the United States are complementary, so the trade turnover between the two countries has increased rapidly and steadily over the years, ensuring important foundations and maintaining national interests in bilateral cooperation. Vietnam's consistent policy is to wish to build a harmonious, sustainable, stable, mutually beneficial economic and trade relationship with the United States; at the same time, it has no intention of creating any obstacles that could harm workers or the economic and national security of the United States. Minister Nguyen Hong Dien also informed about specific groups of solutions that the Vietnamese Government is proactively implementing to promote comprehensive, harmonious and sustainable economic, trade and investment relations with the United States; proposed that the two countries' technical levels continue to exchange so that the United States can soon recognize Vietnam's market economy status; believes that this will be an important decision, commensurate with the stature of the current comprehensive strategic partnership between the two countries.

US Trade Representative Jamieson Greer highly appreciated the proactive coordination and frank, responsible and goodwill views of the Minister of Industry and Trade when he clearly understood and directly mentioned the direction of handling the current concerns of the US. Mr. Greer said that the new US trade policy is purely designed to further promote trade and investment, protect economic security, national security and US workers; not to harm partner countries. However, in trade exchanges, the parties must achieve commensurate economic benefits; accordingly, Vietnam needs to have stronger solutions to open the market and improve the trade balance in the coming time.

Referring to concerns about the developments in US tariff policies, Minister Nguyen Hong Dien and US Trade Representative Jamieson Greer said that this is the time for Vietnam and the US to work closely together to create a fair and sustainable business environment through proactively reviewing and considering the removal of trade barriers that hinder investment and business activities; building an effective control mechanism for trade fraud, origin fraud, and illegal transshipment.

The meeting took place in an atmosphere of understanding, openness, sincerity and frankness. At the end of the meeting, the two sides agreed to conduct regular consultations at the technical level to promptly resolve specific issues arising in order to build a harmonious, sustainable and stable economic and trade relationship, in line with the comprehensive strategic partnership between the two countries.

Source: https://moit.gov.vn/tin-tuc/hoat-dong/dac-phai-vien-cua-thu-tuong-chinh-phu-bo-truong-cong-thuong-nguyen-hong-dien-lam-vic-voi-truong-dai-dien-thuong-mai-hoa.html