Seminar looks into Vietnam-US comprehensive partnership

Hanoi (VNA) – A scientific seminar was held by the Ho Chi Minh National Academy of Politics in Hanoi on December 18 to analyse and assess the effectiveness of the Vietnam – US comprehensive cooperation.

The function was held on the occasion of the 20th founding anniversary of the two countries’ diplomatic relationship. Four discussion sessions were organized on the themes of economics-trade; education, training and human resources development; science, technology and environment; and forecasts for future bilateral cooperation.

Participants said cooperation between Vietnam and the US has been continually expanded and reinforced in all spheres since the normalisation of their relationship in 1995.

Trade and investment collaboration is the focus of and momentum for their ties, they noted, adding that the two-way trade revenue has shot up by some 100 times from 400 million USD in the pre-normalisation period to a likely 40 billion USD in 2015.

The US has been Vietnam’s largest export market since 2005, while Vietnam has ranked 20 th among countries exporting to the US and become the biggest ASEAN exporter to the North American nation.

Meanwhile, US investors have run 742 investment projects worth over 11 billion USD in Vietnam so far, ranking seventh among countries and territories with investment in the country.

Scientific-technological cooperation has seen remarkable strides with a number of fruitful joint research projects, especially those in medicine and pharmacy, agriculture, meteorology and hydrology, and climate change.

The nations have shared experience in building laws, particularly in those on science-technology, businesses, the market and the environment for startups.

While labour and social issues are considered by both sides as a priority at both bilateral and multilateral forums, collaboration in education-training has also been intensified.

Participants expressed their belief that Vietnam and the US boast great potential for enhanced trade connections, especially when the Trans-Pacific Partnership agreement is enforced. They took the occasion to scrutinise advantages, challenges and opportunities for the countries’ comprehensive cooperation.

US Ambassador to Vietnam Ted Osius said since the two sides became comprehensive partner in 2013, they have shown the world the significance of emerging from history and boosting a relationship. That spirit should be maintained to build a vision for the next two decades and beyond.

He also called on the countries’ young people to jointly create and develop new business and investment opportunities. He voiced the belief that the US will surely become the top investor in Vietnam if current cooperation continues to be fostered.-VNA