Politics

PM greets US Secretary of Commerce

PM Nguyen Xuan Phuc greets US Secretary of Commerce

PM Nguyen Xuan Phuc received US Secretary of Commerce Wilbur Ross in Washington DC on May 31 (local time), asking the DOC to recognise Vietnam’s market economy status soon.
PM Nguyen Xuan Phuc greets US Secretary of Commerce ảnh 1Prime Minister Nguyen Xuan Phuc (R) and Secretary of the US Department of Commerce (DOC) Wilbur Ross (Source: VNA)
Washington DC (VNA) – Prime Minister Nguyen Xuan Phuc received Secretary of theUS Department of Commerce (DOC) Wilbur Ross in Washington DC on May 31 (localtime), asking the department to recognise Vietnam’s market economy statussoon.

During the reception, he highly valued considerable growth in the Vietnam-UStrade ties over the past 20 years, affirming the country’s strict implementationof commitments in the bilateral trade agreement as well as within the WorldTrade Organisation.

He highlighted potential for the bilateral trade’s development as the twocountries have complimentary economies. Vietnam imports high-tech goods andservices from the US as well as input materials for its for-export products tothe American nation.

The PM also proposed the DOC to have objective assessments to reflect the essenceof the trade deficit between the two countries while settling trade issuesbased on the Trade and Investment Framework Agreement (TIFA) as well as theWorld Trade Organisation’s regulations.

He hoped the US side to create conditions for Vietnam’s farm produce like fruitsand seafood to access the US market.

Secretary Ross, for his part, affirmed the need to increase bilateral trade on the basis of balance and mutual benefit as a common goal, while stressing his support forthe comprehensive and stronger development of the US-Vietnam ties.

He agreed that the two sides need to restart the mechanism of discussing themarket status for Vietnam.

The DOC will work with Vietnam’s Ministry of Trade and Industry to discussissues in bilateral trade, and talk technical matters with relevant Vietnameseagencies, promoting trade ties between the two countries.

Following the reception, PM Phuc and Secretary Ross witnessed the exchange ofsome trade and investment cooperation documents signed by the two sides’enterprises during the Vietnamese leader’s US visit from May 29-31.

The same day, Prime Minister Phuc received leaders of some major economicgroups, including ASG, McKinsey, Boeing, General Electrics, and Murphy Oil. He highlyspoke of effectiveness of US firms’ projects in Vietnam, affirming theVietnamese Government encourages US businesses to increase investment in Vietnam.

He pledged to continue improving investment and business climate to create morefavourable conditions for foreign enterprises, including those from the US, todo business with Vietnam.

US firm supported resolve and solutions the Vietnamese Government haveimplemented in recent times to create a healthy investment and businessenvironment and a fair playground for foreign businesses. They affirmed tocontinue expanding cooperation and increasing investment in Vietnam.-VNA
VNA
#Prime Minister Nguyen Xuan Phuc #Secretary of the US Department of Commerce Wilbur Ross #Vietnam’s market economy status #Vietnam-US trade ties #bilateral trade agreement #high-tech goods #trade and Investment Framework Agreement United States Vietnam
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