US Ambassador: Vietnam-US relationship grows further
“Looking beyond the record of the past
fifteen years towards the prospects for our relationship in coming
years, I continue to see huge potential for further growth in the
economic relationship between the United States and Vietnam .”
“Looking beyond the record of the past
fifteen years towards the prospects for our relationship in coming
years, I continue to see huge potential for further growth in the
economic relationship between the United States and Vietnam .”
US Ambassador to Vietnam Michael W. Michalak made the statement at talks to the Vietnam Business Club dubbed “A Review of 15 Years of Vietnam-US Relations and Look to the Coming Years” in Hanoi on May 26.
He also said that the US government has designated Vietnam as one of six “next tier markets” under its new national export initiative because Vietnam is a country where US expects significant growth and great opportunities for its businesses.
Over the last 10 years, bilateral trade has increased quickly, especially since the Vietnam-US Bilateral Trade Agreement (BTA) came into effect in 2001, the ambassador remarked.
Even during the global economic downturn in 2009, bilateral trade value between the two countries reached 15.4 billion USD, an increase of 10 times as compared to 2001, he said.
“I don’t believe that has happened anywhere else during this time period,” he said, predicting that 2010 will be another record-breaking year in the two nations’ bilateral trade.
In the mid- to long-term he said, the Vietnamese-US bilateral relationship will further develop “from strength to strength.” Ongoing trade and investment negotiations have the potential to open up even more opportunities for companies from both countries, the ambassador added.
Ambassador Michalak also advised Vietnamese enterprises to make sure that they meet or exceed the formal and informal quality requirements and expectations of the American consumer if they want to boost export into the market.
Deputy Minister of Trade and Industry Nguyen Cam Tu affirmed the importance of economic and trade cooperation with the US in Vietnam ’s international economic integration strategy.
US is currently investing in 500 projects in Vietnam with total registered capital of over 15 billion USD, ranking sixth among 90 countries and territories pouring investment in the Southeast Asian country.
In 2009 alone, the US was Vietnam ’s largest investor in terms of registered capital which reached 9.8 billion USD./.
US Ambassador to Vietnam Michael W. Michalak made the statement at talks to the Vietnam Business Club dubbed “A Review of 15 Years of Vietnam-US Relations and Look to the Coming Years” in Hanoi on May 26.
He also said that the US government has designated Vietnam as one of six “next tier markets” under its new national export initiative because Vietnam is a country where US expects significant growth and great opportunities for its businesses.
Over the last 10 years, bilateral trade has increased quickly, especially since the Vietnam-US Bilateral Trade Agreement (BTA) came into effect in 2001, the ambassador remarked.
Even during the global economic downturn in 2009, bilateral trade value between the two countries reached 15.4 billion USD, an increase of 10 times as compared to 2001, he said.
“I don’t believe that has happened anywhere else during this time period,” he said, predicting that 2010 will be another record-breaking year in the two nations’ bilateral trade.
In the mid- to long-term he said, the Vietnamese-US bilateral relationship will further develop “from strength to strength.” Ongoing trade and investment negotiations have the potential to open up even more opportunities for companies from both countries, the ambassador added.
Ambassador Michalak also advised Vietnamese enterprises to make sure that they meet or exceed the formal and informal quality requirements and expectations of the American consumer if they want to boost export into the market.
Deputy Minister of Trade and Industry Nguyen Cam Tu affirmed the importance of economic and trade cooperation with the US in Vietnam ’s international economic integration strategy.
US is currently investing in 500 projects in Vietnam with total registered capital of over 15 billion USD, ranking sixth among 90 countries and territories pouring investment in the Southeast Asian country.
In 2009 alone, the US was Vietnam ’s largest investor in terms of registered capital which reached 9.8 billion USD./.
You should also see
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
See more
Politics
☕ Afternoon briefing on April 26
The following is a brief review of the day’s events as reported by the Vietnam News Agency.
Politics
Hoa Binh, India step up culture-tourism engagements
Secretary of the Hoa Binh Party Committee Nguyen Phi Long on April 26 hosted Indian Ambassador to Vietnam Sandeep Arya, who is heading a delegation on a working trip to the northern province.
Politics
Ba Ria – Vung Tau inks cooperation MoU with Japanese city
The southern province of Ba Ria - Vung Tau signed a memorandum of understanding (MoU) with Sanjo city of Japan’s Niigata prefecture on establishing friendship and cooperative relations for the 2024 – 2026 period, at a conference held in the Vietnamese locality on April 26.
Politics
Ninh Binh expects further support from UNESCO: Provincial leader
The northern province of Ninh Binh hopes to receive further support from UNESCO to preserve and promote its cultural heritage as well as better integrate into the world’s network of heritage, tourism and cultural industry hubs and creative cities, Secretary of the provincial Party Committee Doan Minh Huan has said.
Politics
Vietnam upholds mobilisation, use, management of financing for sustainable development
State capital and private resources both play an important role in meeting financial needs for development and implementation of the sustainable development goals (SDGs), Minister Counsellor Nguyen Hoang Nguyen told the 2024 ECOSOC Financing for Development (FfD) Forum, held in New York from April 22-25.
