US vows stronger trade ties with Vietnam
(VOV) - Secretary of Commerce Penny Pritzker and Trade Representative Michael Froman have expressed the US’s desire to increase multifaceted cooperation with Vietnam, primarily in economics, trade and investment.
While receiving Prime Minister Nguyen Tan Dung in New York on September 26 (local time), Pritzker and Froman said the newly established comprehensive partnership between the US and Vietnam will facilitate the two business communities’ operations.
They showed the US’s determination to accelerate and conclude Trans-Pacific Partnership (TPP) agreement negotiations with other TPP members at the possible earliest time.
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| PM Nguyen Tan Dung (R) proposed the US recognise Vietnam's market economy status while receiving US Secretary of Commerce Penny Pritzker in New York on September 26 (Photo:VNA) |
They also acknowledged progress the US and Vietnam made during their recent negotiations in Malaysia and Brunei.
For his part, PM Dung confirmed that Vietnam attaches great importance to strengthening multifaceted cooperation with the US, especially in trade, economics and investment.
He said bilateral trade ties have grown and flourished over the years, reaching US$25 billion in 2012, a 16fold increase compared to 2001 before both countries signed bilateral trade agreement (BTA).
He stressed an early conclusion of TPP negotiations will benefit Vietnam, the US and other TPP members.
Vietnam is willing to cooperate closely with the US and other members to conclude negotiations and sign the agreement as scheduled, Dung said.
He welcomed the Department of Commerce's recent decision to remove Vietnam from the list of countries subject to its anti-dumping taxes on warm water frozen shrimp imported into the US, and said the Vietnamese government will create the best possible conditions for US companies to do business in the country.
The PM also proposed the US recognise Vietnam’s market economy status and end investigations into 12 trade disputes with Vietnam, including anti-subsidy and anti-dumping suits against shrimp and tra fish (Pangasius). He assured his hosts that Vietnam does not dump and subsidise these products.
He raised concerns about the 2013 Farm Bill requiring the US Department of Agriculture to closely monitor Pangasius fish farming and processing, and said the move is not necessary as Vietnam is cooperating well with the US Food and Drug Administration (FDA) in the matter.
Pritzker and Froman acknowledged Dung’s proposals and pledged to consider them in the coming time.
PM Dung arrived in New York on September 26, following an official visit to France, to attend a High-level Meeting of the UN General Assembly.
He is scheduled to hold a dialogue with US businesses on Vietnam’s investment environment at 13.00pm (New York time) on September 27.