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Vietnam, US strengthen trade relations

Deputy Minister of Industry and Trade Phan Thi Thang had a meeting with Deputy Assistant US Trade Representative (USTR) for Southeast Asia and the Pacific Sarah Elleman, within the framework of Vice State President Vo Thi Anh Xuan’s recent working visit to the US.
Vietnam, US strengthen trade relations ảnh 1The meeting between Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang and Deputy Assistant US Trade Representative (USTR) for Southeast Asia and the Pacific Sarah Elleman (Photo: VNA)
Washington DC (VNA) – Deputy Minister of Industry and Trade Phan ThiThang had a meeting with Deputy Assistant US Trade Representative (USTR) forSoutheast Asia and the Pacific Sarah Elleman, within the framework of Vice State President VoThi Anh Xuan’s recent working visit to the US.

The two sides assessed the official upgradeof the Vietnam - US relations to a comprehensive strategic partnership onSeptember 10, 2023, as a historic milestone in bilateral ties, in which economicand trade cooperation will continue to be an important driving force, playing apioneer role in promoting common prosperity between the two countries.

Therefore, management agencies of the twocountries in general and between the Ministry of Industry and Trade of Vietnamand the USTR Office in particular need to have more extensive collaborationactivities to implement and realise the vision of high-ranking leaders, and setdevelopment goals commensurate with the comprehensive strategic partnership forthe coming journey, they said.

Thang spoke highly of the close cooperationbetween her ministry and the USTR Office over the recent past, especially inincreasing the efficiency and intensifying policy exchanges on a variety ofeconomic and trade issues through the dialogue mechanism of the US-VietnamCouncil on Trade and Investment.

She reiterated the need for relevantagencies of the US Government to have a substantive voice supporting the earlyremoval of Vietnam from the non-market economy status, affirming that recognisingVietnam as a market economy will allow Vietnamese businesses to be treated morefairly, without affecting the legal rights of the US domestic manufacturingsector.

In addition, the US recognition ofVietnam's efforts in economic reform will motivate other economies, and createmore pushes for Vietnam in improving its business and investmentenvironment, thus helping form a stable supply chain for the import and consumptionneeds of US enterprises and people, stressed Thang.

In the field of trade defence, the officialexpressed deep concern over the increasing frequency of this kind of investigationson Vietnamese exports, and suggested the US carefully consider Vietnam'sopinions in each specific case to ensure trade liberalisation, fairness,objectivity, and transparency for trade activities of the two countries'businesses.

Regarding specific cooperation activitiesin industry and energy, Thang proposed the two sides promote the implementationof signed agreements, expressing her hope the US and developed countries will have specificfunding packages to support Vietnam in effectively implementing energytransition. She also suggested the US help the Southeast Asian nation improveits processing capacity and protect the environment in the process of masteringand exploiting natural resources.

Vietnam, US strengthen trade relations ảnh 2The meeting between Deputy Minister of Industry and Trade Phan Thi Thang and AACC President (Photo: VNA)
The Vietnamese official also had workingmeetings with the Presidents of the American Association of Exporters andImporters (AAEI) and the Asian American Chamber of Commerce (AACC).

US associations highly valued the developmentpotential and investment and business opportunities in Vietnam, saying thatmany member businesses are currently interested in diversifying supply chainsand expanding investment in digital trade and services, seaport development,education, and finance in Vietnam.

Thang took the occasion to invite AAEI andAACC to introduce member businesses to attend the Vietnam InternationalSourcing 2024 scheduled for June in Ho Chi Minh City./.
VNA
#Vo Thi Anh Xuan #Deputy Assistant USTR for Southeast Asia and the Pacific #Sarah Elleman #Vietnam #US #Vietnam - US relations #Asian American Chamber of Commerce #Vietnamplus #Vietnam News Agency United States Vietnam
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