US optimistic about trade relations with Vietnam after election

The US will have a new leader in the coming days, but the bilateral economic relationship between Vietnam and the US will continue to grow. Both countries share the goal of strengthening supply chains and dealing with challenges in cybersecurity.

Vietnamese consumers are increasingly familiar with many products imported directly from the US - Photo: QUANG DINH

Mr. Arun Venkataraman - Assistant Secretary of Commerce for Global Markets, Director of the US and Foreign Commercial Service - recently had a working trip to Vietnam.

The trip takes place at a historic time, marking one year since the establishment of the Comprehensive Strategic Partnership between Vietnam and the United States and the 30th anniversary of the normalization of diplomatic relations.

Bilateral economic benefits are 'too great to ignore'

Answering a question from Tuoi Tre Online when the US will have a new president in just a few days, Mr. Arun Venkataraman said that with the common interest in sustainable development, both the US and Vietnam wish to continue expanding trade and investment relations.

He said that cooperation between businesses of both sides is a key factor to take advantage of great opportunities in the future.

Between now and 2025, despite a change in US leadership, the bilateral economic relationship will continue to grow, as both countries share the goal of strengthening supply chains and dealing with cybersecurity challenges.

“Working together is the best way to deal with these threats, not only for the benefit of the United States, but also for Vietnam.

Looking ahead, we continue to focus on the ‘win-win’ nature of this relationship, the benefits to each side from the existing bilateral relationship, in our view, are too great to ignore,” Mr. Venkataraman affirmed.

The US Department of Commerce representative encouraged Vietnamese businesses to take advantage of opportunities in the US market and develop dynamically.

At the same time, he emphasized that the US will continue to support its businesses to sell technology to Vietnam to help Vietnam develop its economy, improve people's lives and move towards common prosperity.

The assistant minister also noted that bilateral economic relations cannot succeed without the active participation of businesses from both countries.

"Ultimately, in the US, we don't interfere with companies' decisions. Businesses decide for themselves who is the right partner, and if we cooperate effectively, businesses on both sides will respond positively," he said.

Mr. Arun Venkataraman - Assistant Secretary of Commerce for Global Markets and Director of the US and Foreign Commercial Service - Photo: N.BINH

New opportunities for businesses of both countries

Currently, the US is Vietnam's largest export market and Vietnam is the US's 9th largest trading partner.

The trade volume between the two countries has grown 300 times compared to 30 years ago, reflecting the continuous efforts of both governments to exploit common interests to bring prosperity to their people.

During this visit, the US delegation focused on two main areas: digital policy and clean energy.

Discussions took place on developing policies related to data management, cybersecurity, and digital infrastructure, as well as how the United States can support Vietnam in its transition to a cleaner energy future.

Mr. Venkataraman expressed his desire to promote cooperation between US and Vietnamese businesses, affirming that the US private sector has many world-leading technologies and solutions, ready to support Vietnam's development.

"With world-leading technology and solutions, the US private sector is eager to contribute to the development of the Vietnamese economy," the US Assistant Secretary of Commerce emphasized.

Tuoitre.vn

Source: https://tuoitre.vn/my-lac-quan-ve-quan-he-thuong-mai-voi-viet-nam-sau-bau-cu-20241104113628794.htm