Politics

Economic ties – a momentum for Vietnam-US relations: official

Economic and trade partnerships remain a focus of and a momentum for Vietnam-US relations, National Assembly (NA) Vice Chairman Phung Quoc Hien told representatives of the US-ASEAN Business Council.
Economic ties – a momentum for Vietnam-US relations: official ảnh 1NA Vice Chairman Phung Quoc Hien (R) and Alexander C Feldman, President of the US-ASEAN Business Council (Photo: daibieunhandan.vn)

Hanoi (VNA) – Economic and trade partnerships remain a focus of and a momentum for Vietnam-US relations, National Assembly (NA) Vice Chairman Phung Quoc Hien told representatives of the US-ASEAN Business Council.

He met with a delegation of the council led by its President Alexander C Feldman at the parliament’s headquarters in Hanoi on August 25.

Hien appreciated practical and effective contributions by US and ASEAN enterprises to Vietnam, noting that his NA has continually provided the best possible conditions for foreign investments, including that from the US.

He assured that the Vietnamese parliament is working to fine-tune the legal system, which includes laws pertaining to the market economy mechanism.

He asked US companies operating in Vietnam to pay more heed to environmental protection and social responsibility while helping the host nation in manpower training and technology transfer.

Regarding the Trans-Pacific Partnership (TPP) agreement to which both Vietnam and the US are parties, the Vice Chairman said the local legal system is being aligned with the TPP and the NA will consider approving the trade pact as soon as possible.

He added he hopes the US will also ratify the deal soon to meet the shared economic and political interests of the member nations.

For his part, Alexander C Feldman highly valued the role of Vietnam’s parliament in promoting the local economy, along with the optimal conditions given to the US’s investment and business activities.

He also wanted the NA to ratify the TPP in the near future to generate more opportunities for respective enterprises’ cooperation, thereby fostering the two countries’ overall relations.-VNA

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#US-ASEAN Business Council #market economy mechanism #TPP
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