At the beginning of the meeting, Deputy Minister Nguyen Hoang Long welcomed Senator Tammy Duckworth's visit to Vietnam this time, happily affirming that the economic and trade relationship in the overall bilateral relationship between Vietnam and the United States is having very good and substantive developments, especially after the event of the two countries officially upgrading their relationship to the level of Comprehensive Strategic Partnership in September 2023.
Deputy Minister Nguyen Hoang Long affirmed that Vietnam always considers the United States as a leading important partner, and the economic relations between Vietnam and the United States are complementary to each other's competitive advantages. Vietnam's consistent policy is to maintain political , economic and social stability. In the coming time, Vietnam will continue to consistently implement the Party and State's policies on rapid and sustainable development based on science and technology, innovation and digital transformation; reform and improve the quality of market economic institutions; improve the investment and business environment, enhance national competitiveness; build a self-reliant Vietnamese economy on the basis of mastering technology, actively integrating and diversifying markets. Vietnam pledges to continue to proactively cooperate with the United States to comprehensively address the concerns of both countries, thereby maintaining stable trade relations, towards a harmonious, sustainable and mutually beneficial trade balance.
The two sides acknowledged the outstanding achievements in economic and trade cooperation in recent times, with the total bilateral trade turnover in 2024 reaching more than 124.3 billion USD, and the trade exchange structure also having very positive changes. The above achievements were achieved thanks to the initiative and strategic vision of the two governments and the active coordination and effective implementation of relevant agencies of Vietnam and the United States.
In addition to economic, trade and investment cooperation, Deputy Minister Nguyen Hoang Long also proposed that the US expand FDI investment and provide technical assistance to Vietnam in new fields with high technology content and added value such as semiconductor industry, clean energy, high-tech agriculture, etc.
Deputy Minister Nguyen Hoang Long also expressed Vietnam's concerns regarding restrictions on access to the US market and the increasing frequency of trade defense cases against Vietnam's agricultural exports; and requested Senator Tammy Duckworth to provide comments to relevant US agencies for an objective, fair and practical assessment in the process of considering the issue of recognizing Vietnam's market economy status.
For her part, Senator Tammy Duckworth expressed her gratitude and appreciation for Deputy Minister Nguyen Hoang Long's time to receive the delegation; welcomed the Vietnamese Government's early approval of the Direct Power Purchase Mechanism between Renewable Energy Generators and Large Electricity Users, and shared the US's view on the possibility of enhancing cooperation with Vietnam in the fields of semiconductors, renewable energy and supporting industries supporting the development of the renewable energy sector such as ethanol production...
Regarding the remaining economic and trade issues, Senator Tammy Duckworth affirmed that the two countries need to increase cooperation and dialogue to find solutions that best meet the interests of all parties.
At the end of the meeting, Deputy Minister Nguyen Hoang Long once again affirmed that Vietnam considers the United States one of its important partners and hopes that the economic and trade pillar will develop stably, making substantial and commensurate contributions to the Comprehensive Strategic Partnership that the two countries have just established.
Source: https://moit.gov.vn/tin-tuc/hoat-dong/thu-truong-nguyen-hoang-long-tiep-doan-thuong-nghi-sy-tammy-duckworth.html
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