Vietnam always prioritizes economic - financial

On the morning of September 20, 2023 (US time) in New York City, on the occasion of attending the High-level General Debate of the 78th session of the United Nations General Assembly combined with bilateral activities in the United States, Prime Minister Pham Minh Chinh received US Treasury Secretary Janet Yellen to discuss bilateral cooperation in the economic and financial fields and issues of mutual concern. The meeting took place in a sincere, substantive and effective atmosphere.

At the meeting, Prime Minister Pham Minh Chinh and Treasury Secretary Janet Yellen expressed their pleasure at meeting again, especially right after the two countries established a comprehensive strategic partnership for peace , cooperation and sustainable development during President Joe Biden's state visit to Vietnam at the invitation of General Secretary Nguyen Phu Trong, creating a new impetus and a long-term cooperation framework for the bilateral relationship. The Prime Minister affirmed that Vietnam considers the United States one of its leading important partners; and is ready to continue to promote the development of the relationship with the United States in a deep, stable and substantive manner.

The Prime Minister said that Vietnam considers economic-financial-trade-investment cooperation a priority in the Comprehensive Strategic Partnership with the United States; highly appreciated Secretary Janet Yellen and the US Treasury Department for their substantial contributions to economic and financial cooperation. The Prime Minister asked the US Treasury Department to continue to devote resources to promoting economic-financial relations between Vietnam and the United States, and asked the US to soon recognize Vietnam's market economy status; and asked the two countries to strengthen dialogue and cooperation in areas of common interest such as infrastructure and financial services, human resources training, information technology application, sharing of management experience, loans and aid, tariffs, capital markets and securities. The Prime Minister asked the US to limit trade defense measures against textiles, footwear, wooden products and especially agricultural products, the livelihood of Vietnamese farmers.

Treasury Secretary Janet Yellen shared Prime Minister Pham Minh Chinh's assessment of the special significance of President Joe Biden's visit to Vietnam, saying that the two countries' upgrading of relations to a Comprehensive Strategic Partnership reflects the spectacular progress in bilateral relations, enhancing understanding and trust, demonstrating the US's commitment to opening up new opportunities for economic cooperation between the two countries. The Minister affirmed that since the normalization of relations in 1995, the United States and Vietnam have always been important economic and trade partners of each other and Vietnam is a key partner in implementing the US's regional policy and that the United States is currently cooperating with Vietnam to enhance the resilience of the regional supply chain and that Vietnam has potential in the semiconductor supply chain. Secretary Yellen thanked Vietnamese government agencies for actively and proactively working with the US Treasury on trade, monetary and foreign exchange policies; acknowledged Vietnam's recent efforts in addressing US concerns related to the above areas.

Regarding regional cooperation, the Prime Minister expressed his hope that the United States will continue to closely engage with the economic development and international integration of the Asia-Pacific region. The Prime Minister asked the United States to allocate more resources and finance to support the Mekong sub-region countries in achieving sustainable development goals.

The two sides reviewed cooperation priorities in the field of international economics and finance, including mitigating global risks, preventing financial crises, promoting socio-economic recovery after the COVID-19 pandemic, and developing a green economy for peace, stability, cooperation and common prosperity./.

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