Minister of Industry and Trade Nguyen Hong Dien had a meeting  with US Secretary of Commerce Howard Lutnick at the Department of Commerce on May 22 to discuss ways to boost economic cooperation and review the progress of negotiations on a reciprocal trade agreement during his working visit to the US from May 19 to 22.

At the meeting, both ministers agreed that Vietnam and the US have highly complementary economies and vast potential for cooperation. Dien emphasized Vietnam’s consistent and growing demand for US products, equipment, and services, particularly in high-tech and energy sectors.

He reaffirmed Vietnam’s commitment to promoting a transparent and fair trade environment, and expressed readiness to beef up cooperation with the US in handling trade fraud, origin mislabeling, and illegal transshipment.

As part of its strategy to become a high-income developed country by 2045, Vietnam considers the US one of its leading strategic partners and aims to develop a balanced and mutually beneficial economic relationship.

The minister proposed that the US work hand in hand with Vietnam to resolve existing trade issues, formally recognize Vietnam as a market economy, and remove it from the D1 and D3 lists that currently restrict exports of high-tech goods. He stressed that these steps would bring practical benefits to both countries and contribute to a more equitable and sustainable trade balance.

In response, Secretary Lutnick welcomed Vietnam’s constructive approach to the trade agreement and applauded efforts to deepen cooperation in areas with high technological content and added value. He described Vietnam as an important and attractive market for US businesses, and expressed hope that the country would continue to support US investment projects and help expand two-way trade, especially by increasing imports from the US.

Both sides agreed to maintain high-level engagement and technical dialogue to achieve substantive progress in negotiations and to build a stable and enduring framework for economic partnership.

As part of his visit, on May 21, Minister Nguyen Hong Dien also held discussions with Senator Ted Cruz, Chairman of the US Senate Committee on Commerce, Science & Transportation, and Senator Steve Daines, a member of the Senate Committees on Finance and Foreign Relations and several senior leaders from Vietnamese relevant ministries.

Dien affirmed that Vietnam continues to offer favorable conditions for US enterprises to invest and operate efficiently, and proposed that the US treat Vietnam as a priority trade partner, particularly in light of the recent elevation of bilateral relations to a Comprehensive Strategic Partnership.

Regarding bilateral trade negotiations, Minister Dien said Vietnam is ready to work closely with the US toward a trade agreement based on mutual respect, balanced interests in line with international commitments and each country’s level of development. He also called on the senators to support and help fast-track the negotiation process.

The US lawmakers welcomed Vietnam’s economic potential, especially in industry, energy, high-tech, and the digital economy. They noted that many major US firms are showing keen interest in Vietnam’s policies and investment climate, and expressed a strong desire to expand their business presence in this strategic market in the Asia Pacific region.

Both sides shared hopes that the Vietnam US comprehensive partnership will continue to grow and flourish, especially as global supply chains are being restructured and shifting toward dynamic and stable markets like Vietnam.

Vietnam and United States make progress in trade agreement negotiations

VOV.VN - Vietnam and the United States have made notable progress in the second round of negotiations on a bilateral reciprocal trade agreement that took place in Washington, D.C. from May 19 - 22.