Vietnam, US state bolster cooperation for economic recovery

Tra fish processing for exports (Illustrative photo: VNA)

Hanoi (VNA) - It is now an important time for Vietnam and the West Virginia state of the US to cooperate in a joint effort on economic resumption and fighting the COVID-19 pandemic, Minister of Industry and Trade Tran Tuan Anh has said.

The minister made the statement during a May 7 online talk with Carol Miller, US House member representing West Virginia’s 3rd congressional district.

The talks also involved Vietnamese Ambassador to the US Ha Kim Ngoc and representatives from the Ministry of Industry and Trade (MoIT), Vietnam’s trade office in the US, and the Vietnam National Coal and Mineral Industries Group (Vinacomin).

Anh underlined the special significance of Vietnam-US ties while speaking highly of Miller’s role in promoting bilateral economic and trade relations in the US Congress and Government. 

Vietnam and the US have devised an action plan elaborating various measures towards sustainable trade, including boosting cooperation with the US federal government and states, he said.

According to Anh, building strategic trust is among the leading factors that help bolster the Vietnam-US comprehensive partnership in general and bilateral economic and trade ties in particular, making contributions to peace, stability, cooperation, and development in Asia-Pacific.

The Vietnamese Government has given priority to improving the investment climate and creating optimal conditions for US projects, he confirmed.

He also suggested the signing of an agreement between the MoIT and West Virginia to foster collaboration, focusing on the three pillars of economics, trade, and energy, in a bid to build a legal framework and facilitate cooperation between the business communities of the two sides.

The US congresswoman appreciated the suggestion, and thanked the Vietnamese Government for facilitating long-term business activities by foreign investors in general and US businesses in particular.

She said that West Virginia and Vietnam share a common goal of enhancing trade connections, especially in fields where the state boasts strengths, such as energy, coal, and liquefied gas, among others. 

She pledged to spare no effort in promoting the image of Vietnam in the US Congress and Government, thereby contributing to the two countries' cooperation in a practical and effective manner. 

The Vietnamese Embassy pledged to work as a bridge to promote the collaboration between Vietnam’s ministries, sectors and enterprises with US states.

Trade cooperation and investment between Vietnam and the US have been thriving, with two-way trade hitting 77.5 billion USD in 2019 and 19.5 billion USD in the first quarter of 2020, a year-on-year increase of 19.3 percent./.