Vietnam - US agree to negotiate bilateral trade agreement

Deputy Prime Minister Ho Duc Phoc, Special Envoy of General Secretary To Lam, discussed and negotiated with the US Government to agree on organizing negotiations on a bilateral trade agreement.

Deputy Prime Minister Ho Duc Phoc works with Finance Minister Scott Bessent - Photo: VGP

Continuing activities within the framework of the visit to the US as Special Envoy of General Secretary To Lam to discuss bilateral economic and trade issues, on April 10 (local time), Deputy Prime Minister Ho Duc Phoc had working sessions with Finance Minister Scott Bessent and Commerce Minister Howard Lutnick.

Tariff provisions are an important provision of the negotiated agreement.

Along with agreeing on the bilateral trade agreement, the two sides have officially agreed to consider negotiating the content of tariffs, which is the most important provision of this agreement.

This is the biggest breakthrough during the recent days of intense negotiations that the Vietnamese special delegation has achieved with the US Government because previously the content of signing a bilateral trade agreement that our side had brought up many times but the US had not agreed.

The Government's electronic information portal assessed that with this negotiation step, Deputy Prime Minister Ho Duc Phoc has opened the "steel door" that had been closed for a long time and successfully completed the task and goal. In the coming time, the Government will consider establishing a ministerial-level technical negotiation group to concretize the results that the special working group has achieved in recent days.

At a meeting with Finance Minister Scott Bessent, Deputy Prime Minister Ho Duc Phoc affirmed that Vietnam attaches importance to developing the comprehensive strategic partnership with the US, and wishes to promote economic and trade relations in a balanced, harmonious and sustainable manner.

The Deputy Prime Minister appreciated the fact that the two sides agreed to initiate negotiations on a reciprocal trade agreement, including agreements on tariffs.

With the view that Vietnam is ready to negotiate, he suggested that the two sides soon discuss specifics to reach an agreement as soon as possible.

US Treasury Secretary Scott Bessent expressed his pleasure at meeting Deputy Prime Minister Ho Duc Phoc, saying that he had visited Vietnam and personally had many good impressions and memories of the country and people of Vietnam.

Minister Bessent thanked Vietnam for promptly taking positive measures to address issues of concern to the US; appreciated the two countries' agreement to negotiate a bilateral trade agreement; and said the US government appointed him as head of the negotiating delegation with Vietnam.

Therefore, he expressed his belief that the two sides will soon reach appropriate solutions to promote stable and mutually beneficial economic and trade relations.

Deputy Prime Minister Ho Duc Phoc meets with Minister of Commerce Howard Lutnick - Photo: VGP

US Secretary of Commerce assesses great potential of Vietnam's economy

At the meeting with Minister of Commerce Howard Lutnick, Deputy Prime Minister Ho Duc Phoc said that the two sides' agreement to start negotiations on a bilateral trade agreement is extremely important, in line with the framework of the Vietnam-US Comprehensive Strategic Partnership.

Emphasizing the significance of the two countries celebrating the 30th anniversary of diplomatic relations (1995-2025), the Deputy Prime Minister expressed his delight at the positive development of bilateral relations and hoped that the two sides would continue to closely coordinate to further deepen the Comprehensive Strategic Partnership, in which economic, trade and investment cooperation is an important pillar.

The Deputy Prime Minister affirmed that Vietnam's consistent policy is to maintain political, economic and social stability; build an independent and self-reliant economy, associated with proactive and active international integration, deeply, practically and effectively.

The Deputy Prime Minister asked the US Department of Commerce to closely coordinate with relevant Vietnamese ministries, sectors and agencies during the negotiation process.

Minister Howard Lutnick affirmed that he highly values ​​the relationship with Vietnam, saying that Vietnam is a large economy with great potential and is an important partner of the US in the region.

Minister Lutnick emphasized that the US currently prioritizes re-industrialization, bringing production back to the US, and ensuring fair trade.

The Minister affirmed that the US Department of Commerce will closely coordinate with Vietnam to negotiate and resolve issues arising in bilateral economic and trade relations, aiming for a suitable agreement that contributes to the development of both the US and Vietnam.

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Source: https://tuoitre.vn/viet-my-nhat-tri-dam-phan-thoa-thuan-thuong-mai-song-phuong-20250411074109478.htm