Proposing the United States to soon recognize Vietnam's market economy status

Prime Minister Pham Minh Chinh receives US Treasury Secretary Janet Yellen. Photo: Duong Giang/VNA

At the meeting, Prime Minister Pham Minh Chinh and Finance Minister Janet Yellen expressed their pleasure at meeting again, especially right after the two countries established a comprehensive strategic partnership for peace , cooperation and sustainable development during President Joe Biden's state visit to Vietnam at the invitation of General Secretary Nguyen Phu Trong, creating a new impetus and a long-term cooperation framework for the bilateral relationship.

The Prime Minister affirmed that Vietnam considers the United States one of its top important partners and is ready to continue working with the United States to promote a deep, stable and substantive development of relations.

The Prime Minister said that Vietnam considers economic - financial - trade - investment cooperation a priority of the comprehensive strategic partnership with the United States; highly appreciated Secretary Janet Yellen and the US Treasury Department for their substantial contributions to economic and financial cooperation.

The Prime Minister proposed that the US Treasury continue to devote resources to promoting economic and financial relations between Vietnam and the US; the US soon recognize Vietnam's market economy status; the two countries strengthen dialogue and cooperation in areas of common interest such as infrastructure and financial services, human resource training, information technology application, sharing of management experience, loans and aid, tariffs, capital markets and securities; the US side limit trade defense measures against textiles, footwear, wooden products and especially agricultural products, the livelihood of Vietnamese farmers.

Prime Minister Pham Minh Chinh receives US Treasury Secretary Janet Yellen. Photo: Duong Giang/VNA

Treasury Secretary Janet Yellen shared Prime Minister Pham Minh Chinh's assessment of the special significance of President Joe Biden's visit to Vietnam, saying that the two countries' upgrading of relations to a Comprehensive Strategic Partnership reflects the spectacular progress in bilateral relations, enhancing understanding and trust, demonstrating the US's commitment to opening up new opportunities for economic cooperation between the two countries. The Minister affirmed that since the normalization of relations in 1995, the US and Vietnam have always been important economic and trade partners of each other and Vietnam is a key partner in implementing the US's regional policy and that the US is currently cooperating with Vietnam to enhance the resilience of the regional supply chain and that Vietnam has potential in the semiconductor supply chain.

Secretary Yellen thanked Vietnamese government agencies for actively and proactively working with the US Treasury Department on trade, monetary and foreign exchange policies; and acknowledged Vietnam's recent efforts in addressing US concerns related to these areas.

Regarding regional cooperation, the Prime Minister expressed his hope that the United States will continue to closely engage with the economic development and international integration of the Asia-Pacific region. The Prime Minister asked the United States to allocate more resources and finance to support the Mekong sub-region countries in achieving sustainable development goals.

The two sides reviewed cooperation priorities in the field of international economics and finance, including mitigating global risks, preventing financial crises, promoting socio-economic recovery after the Covid-19 pandemic, and developing a green economy for peace, stability, cooperation and common prosperity.

Source hanoimoi

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