Vietnam is an important and attractive market for US businesses.

Minister of Industry and Trade Nguyen Hong Dien and US Secretary of Commerce Howard Lutnick

On May 22 (local time), in Washington DC, within the framework of a working trip to the United States, Minister of Industry and Trade Nguyen Hong Dien, Head of the Government Negotiation Delegation, had a working session with US Secretary of Commerce Howard Lutnick to promote bilateral economic and trade cooperation and discuss the negotiation process of the Reciprocal Trade Agreement between the two countries.

At the meeting, the two Ministers agreed that Vietnam and the United States have highly complementary economies and great potential for cooperation. Minister Nguyen Hong Dien affirmed that Vietnam has a large and stable demand for products, equipment and services with strengths from the United States, especially in the fields of high technology and energy. Vietnam is committed to promoting a transparent and healthy trade environment and is ready to strengthen coordination with the United States in preventing trade fraud, origin fraud and illegal transshipment.

With the orientation of becoming a high-income developed country by 2035, Vietnam identifies the United States as one of its leading strategic partners and wishes to promote economic and trade relations in a balanced, sustainable and mutually beneficial manner. The Minister of Industry and Trade proposed that the United States and Vietnam make efforts to resolve current trade and economic problems, promptly recognize Vietnam as a market economy and remove Vietnam from the D1 and D3 lists restricting the export of high-tech products. This will contribute to bringing practical benefits to the two countries and improving the trade balance in a fair, harmonious and sustainable manner.

Both sides agreed to continue promoting technical dialogue and maintaining high-level exchanges to soon achieve substantive progress in negotiations.

For his part, US Secretary of Commerce Howard Lutnick appreciated Vietnam's efforts and goodwill in negotiating the bilateral reciprocal trade agreement, and welcomed the two countries' increased cooperation in high-tech and value-added sectors. He affirmed that Vietnam is an important and attractive market for US businesses, and hoped that Vietnam would continue to facilitate US investment projects, contributing to expanding two-way trade turnover, especially imports of goods from the US.

Both sides agreed to continue promoting technical dialogue and maintaining high-level exchanges to soon achieve substantive progress in negotiations, towards building a stable and long-term economic and trade cooperation framework.

Previously, on May 21 (local time), within the framework of a working trip to the United States, Minister of Industry and Trade Nguyen Hong Dien met and worked with Senator Ted Cruz, Chairman of the Senate Commerce Committee and Senator Steve Daines, member of the Senate Finance and Foreign Affairs Committees.

During the working sessions, Minister Nguyen Hong Dien emphasized Vietnam's commitment to promoting bilateral economic and trade cooperation in a harmonious and sustainable manner, bringing practical benefits to the people and businesses of the two countries. He affirmed that Vietnam always creates favorable conditions for US enterprises to invest and do business effectively and suggested that the US consider Vietnam a priority trade partner in the context that the two countries have officially upgraded their relations to the level of Comprehensive Strategic Partnership.

Minister of Industry and Trade works with Senator Steve Daines, member of the Senate Finance and Foreign Affairs Committees

Regarding the bilateral trade negotiation process, the Minister affirmed that Vietnam is ready to closely coordinate with the US side towards a trade agreement based on the principles of respecting sovereignty , balancing interests, in accordance with international commitments and the development level of each side. He also asked the Senators to support and promote this process.

On the US side, the Senators highly appreciated the development potential of the Vietnamese market, especially in the fields of industry, energy, high technology and digital economy. The Senators said that many large US enterprises are very interested in and closely monitoring the investment policies and environment in Vietnam, and expressed their desire to expand business activities and long-term investment in this strategic market in the Asia-Pacific region.

The two sides expect that the comprehensive cooperation relationship between Vietnam and the United States will continue to be strengthened and developed, especially in the context of the global economy strongly restructuring the supply chain and expanding to dynamic and stable markets like Vietnam.

Anh Tho

Source: https://baochinhphu.vn/viet-nam-la-thi-truong-quan-trong-hap-dan-doi-voi-cac-doanh-ngiep-hoa-ky-102250523142136177.htm