Politics

US Embassy replies to Vietnam News Agency on Vietnam-US trade ties

The US President is determined to pursue free, fair, and reciprocal trade and investment terms for American businesses, farmers, and workers with all U.S. economic partners, including friends like Vietnam, the spokesperson of the US Embassy in Hanoi said on July 1.
US Embassy replies to Vietnam News Agency on Vietnam-US trade ties ảnh 1Illustrative image (Photo: vneconomictimes.com)

Hanoi (VNA) – The US President is determined to pursue free, fair, and reciprocal trade and investment terms forAmerican businesses, farmers, and workers with all U.S. economic partners,including friends like Vietnam, the spokesperson of the US Embassy in Hanoi saidon July 1, in reply to  the Vietnam News Agency’s question on Vietnam-US tradeand investment ties.

“We have spokenforthrightly with our Vietnam partners about our persistent trade imbalance,and hope Vietnam takes steps in the near term to address our concerns in aconstructive manner,” the spokesperson said.

Earlier on June28, in reply to reporters’ question about Vietnam’s reaction to US PresidentDonald Trump’s remark on the Vietnam-US economic-trade ties, Foreign Ministry spokespersonLe Thi Thu Hang affirmed that with the view that the two economies cansupplement each other, Vietnam wants to promote free and faireconomic-trade-investment ties with the US on the basis of mutual benefit.

She went onto say that in that spirit, Vietnam has made many efforts to improve the tradebalance between the two countries, by increasing the import of products whichare in the US’s strength and needed by Vietnam, bettering the investment andbusiness environment, creating favourable conditions for US firms which want tooperate in Vietnam, and encouraging Vietnamese firms to invest and do businessin the US.

Accordingto the spokesperson, Vietnam has implemented numerous measures to curb andprevent trade frauds and the export of foreign goods disguised as Vietnam-madegoods to other markets.

Vietnam andthe US regularly hold discussions through available mechanisms such as theTrade and Investment Framework Agreement (TIFA) to form a long-term andcomprehensive cooperative strategy, further intensify bilateral economic, tradeand investment relations and timely address arising problems, Hang said.

Statisticsof the Vietnam Chamber of Commerce and Industry showed that the US has beenamong leading trade partners of Vietnam with bilateral trade value surging bymore than 130 times since 1994. The US’s exports to Vietnam rose by nearly 40percent in 2018. US investors are running 900 valid projects in Vietnam withtotal investment capital of more than 9 billion USD.-VNA
VNA
#US President Donald Trump #US economic partners #US Embassy in Hanoi #Vietnam-US trade and investment ties #trade balance #Vietnam Chamber of Commerce and Industry #trade partners #vietnamplus #Vietnam News Agency United States Vietnam
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