Proposing the US to soon recognize Vietnam's market economy status

At the meeting with US Secretary of Commerce Gina Raimondo, Prime Minister Pham Minh Chinh said that Vietnam identifies economic , trade and investment cooperation as the foundation and driving force of the Comprehensive Strategic Partnership with the US.

The Prime Minister appreciated the US Department of Commerce and Minister Gina Raimondo personally for their substantial contributions to promoting trade cooperation between the two countries in recent times.

The Prime Minister requested the US Department of Commerce to soon recognize Vietnam's market economy status, continue to pay attention to promoting bilateral economic and trade relations, especially encouraging US high-tech enterprises to do business in Vietnam, and increase delegation exchanges and experience sharing.

The Prime Minister also suggested that the two sides create breakthroughs in cooperation in science and technology, innovation, education and training; and at the same time further promote cooperation in combating climate change, green growth, and renewable energy development.

Commerce Secretary Gina Raimondo said that US businesses are very interested in Vietnam to seek business and investment opportunities and believe that after completing negotiations on the Indo-Pacific Economic Framework for Prosperity (IPEF), businesses and investment funds will invest heavily in Vietnam.

The Prime Minister suggested that the US further open its market to Vietnamese goods such as electronics, textiles, footwear, agricultural products, and fresh fruits, and cooperate to maintain two-way trade growth as in recent years, while properly considering the interests of Vietnamese enterprises and not using trade defense measures against Vietnamese goods on the basis of ensuring balance, equality, and mutual benefit.

The US Secretary of Commerce said that he will push for the US to soon recognize Vietnam's market economy status, coordinate the implementation of the contents agreed in the Joint Statement, especially in priority areas such as economy, trade and investment... to continue to deepen, substantiate and effectively promote cooperation between the two countries.

At a meeting with Trade Representative Katherine Tai, Prime Minister Pham Minh Chinh asked the US to further open its market to Vietnamese goods. Photo: VGP

At the meeting with Trade Representative Katherine Tai, Prime Minister Pham Minh Chinh suggested that the two sides actively coordinate to quickly realize the agreements of the two countries' senior leaders, including the US prioritizing the promotion of the roadmap for recognizing Vietnam's market economy status, further opening the market for Vietnamese goods such as textiles, footwear, agricultural products, while at the same time properly considering the interests of Vietnamese enterprises, not applying trade defense measures against Vietnamese goods on the basis of ensuring balance, equality, and mutual benefit.

The Prime Minister suggested that the two sides create breakthroughs in cooperation in science and technology, innovation, education and training; and asked the US to support Vietnam in building a supply chain related to semiconductor chips.

Trade Representative Katherine Tai affirmed that the US always considers Vietnam an important partner in the region; wishes to continue promoting bilateral economic and trade cooperation and the US Trade Representative will play a role in continuing to promote relations between the two countries in the coming time.

Ms. Katherine Tai informed about the progress and expressed her hope that Vietnam would continue to participate in supporting efforts to soon conclude negotiations on the Indo-Pacific Economic Framework for Prosperity (IPEF) to bring common benefits to countries and people in the region.

On September 19, local time, Prime Minister Pham Minh Chinh visited and delivered a policy speech at Georgetown University, Washington, DC, USA.

Prime Minister Pham Minh Chinh at Georgetown University. Photo: VNA

According to the Government Newspaper, in his speech at Georgetown University, Prime Minister Pham Minh Chinh focused on presenting three main contents: How is the world today? Vietnam's goals and major policies; What must we do to realize the Vietnam - US Comprehensive Strategic Partnership in the coming time?

Prime Minister Pham Minh Chinh stated that in the coming time, Vietnam-US relations need to aim for increasingly deep, substantial and effective development, commensurate with the new framework, practically meeting the interests of the people of the two countries, for peace, stability and development of the region and the world; promoting bilateral relations without harming the interests of other countries.

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