Prime Minister Nguyen Tan Dung has pressed for the prompt signing of the Vietnam–US double taxation avoidance agreement and conclusion of the Trans-Pacific Partnership (TPP) negotiations this year as committed by leaders of member nations.

PM Dung made the remarks when receiving visiting US Secretary of Treasury Jacob J. Lew in Hanoi on November 14, asking the US to recognise Vietnam as a market economy.

The PM added Vietnam will closely coordinate with the US in the TPP talks, saying that there should be flexibilities that match each nation’s development pace during the process towards reaching a deal that balances its members’ interests.

As a member of the World Trade Organisation (WTO), Vietnam always abides by commitments reached in the past, and actively applies the market economy and works to integrate the country with the world economy for rapid and sustainable development, he said.

The host also hailed what was reached at the working session between the US Department of Treasury and the Vietnamese Finance Ministry as well as their collaboration over the past time, especially in technical assistance in taxation, public accounting, one-door customs and macro-economic analysis models.

The PM pointed to economic, trade and investment areas where, according to him, even more can be done to benefit both sides.

Lew, for his part, said the US highly values Vietnam’s involvement in the TPP negotiations and hopes for its flexibility in negotiating e-payment and market expansion.

He vowed that the US will actively step up talks on the double taxation avoidance agreement between the two nations.

He said his visit is meant to foster financial and monetary cooperation with Vietnam, stressing that the US pays special attention to working closely with Vietnam across diverse realms, especially economics, trade and investment.-VNA