Prime Minister: Economy should be considered the eternal engine of Vietnam-US relations

Prime Minister Pham Minh Chinh emphasized the priority of cooperation with the US in economics , trade and investment, and requested that the US soon recognize Vietnam's market economy status.

At a meeting with US President Joe Biden at the government headquarters today, Prime Minister Pham Minh Chinh emphasized the importance of General Secretary Nguyen Phu Trong and President Biden's announcement to upgrade Vietnam-US relations to a Comprehensive Strategic Partnership, according to a statement from the Ministry of Foreign Affairs.

Prime Minister Pham Minh Chinh affirmed Vietnam's consistent stance of considering the US a partner of strategic importance. To effectively implement the framework of the Vietnam-US Comprehensive Strategic Partnership, Prime Minister Pham Minh Chinh suggested that the two sides continue to strengthen cooperation on all channels, especially the Party, State diplomacy and people-to-people diplomacy.

Prime Minister Pham Minh Chinh met with President Biden at the government headquarters on September 11. Photo: Giang Huy

Regarding economic, trade and investment cooperation, the Prime Minister said that this should be considered the "eternal engine" of bilateral relations, and suggested that the US soon recognize Vietnam's market economy status, upgrade the Trade and Investment Framework Agreement, and continue to encourage US high-tech enterprises to do business in Vietnam.

Prime Minister Pham Minh Chinh also suggested that the two sides create breakthroughs in cooperation in science and technology, innovation, education and training, and promote cooperation in climate change response, green growth, and renewable energy development.

President Biden believes that upgrading relations is an opportunity to build a bright future for the two peoples, reaffirming support for a strong, independent, self-reliant and prosperous Vietnam that continues to innovate and expand international integration.

The US President agreed with Prime Minister Pham Minh Chinh on the orientations and measures to implement the new framework of bilateral relations, as well as priority areas of cooperation, including healthcare, social security, green energy, high technology, etc.

Prime Minister Pham Minh Chinh and President Biden attend a conference with businesses from both countries on September 11. Photo: Giang Huy

President Biden suggested that the two sides strengthen cooperation in the semiconductor supply chain through human resource training programs for Vietnam, gradually supporting Vietnam to participate more deeply and become an important link in supply chains in the region and the world.

Prime Minister Pham Minh Chinh hopes that the US will continue to provide practical support for Vietnam 's peacekeeping activities at the United Nations, highly appreciates the role of multilateralism, and suggests that the US continue to pay attention to devoting resources to effectively implementing the ASEAN-US Comprehensive Strategic Partnership and further deepening the Mekong-US Partnership.

After the meeting, Prime Minister Pham Minh Chinh and President Biden attended and spoke at the Vietnam- US Summit on Investment and Innovation, with the participation of a number of leading businesses of the two countries in the fields of technology, innovation and financial investment.

Economic, trade and investment cooperation is a high priority area in bilateral relations. The US remains Vietnam's largest export market and Vietnam has become the US's 7th largest trading partner. Bilateral trade growth has increased from 450 million USD in 1995 to over 123 billion USD in 2022.

By 2023, the US will rank 11th among investors in Vietnam with about 1,200 projects and a total capital of nearly 11.4 billion USD. Vietnam currently has 230 investment projects in the US with a total registered capital of 1.26 billion USD.

Vnexpress.net