Vietnamese Minister of Industry and Trade Nguyen Hong Dien recently held phone talks with US Secretary of Commerce Gina Raimondo to discuss bilateral economic and trade issues.
Dien, who is also Chairman of the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council, suggested the US Department of Commerce enhance discussions to achieve progress in market economy recognition and give objective and fair opinions in line with the World Trade Organisation (WTO)’s regulations in trade defence investigations.
The maintenance of goods supply, manufacturing activities and export-import are the top important priorities of the Vietnamese Ministry of Industry and Trade, Dien said, adding that Vietnam will step up vaccination, thus creating favourable conditions for firms to mobilise workers back to work.
About existing bilateral economic and trade issues, Dien stressed that Vietnam is ready to increase dialogues with the US to deal with them. He also hailed the US for offering opinions to further perfect existing legal framework.
Raimondo, for her part, said economy and trade remain a high priority under President Joe Biden’s policy, stressing that the US enterprises want to invest in many fields in Vietnam, with energy as a top priority.
The US will actively work with Vietnam to ensure the continuity of goods supply chain amid the complicated developments of the pandemic in the country, she said.
Dien suggested Raimondo convey his message to the US Government about giving further priority to assisting Vietnam in vaccines, accelerating the implementation of signed vaccine supply contracts, and facilitating vaccine production technology transfer.
Both sides expressed their belief that the bilateral ties will maintain stable growth momentum, with economic and trade collaboration as a focus and key driving force.
Over the past five years, Vietnam’s export to the US has surged by 230% while the US’s shipment to Vietnam has soared by over 175%. The US became Vietnam’s largest importer while Vietnam was the 10th biggest trade partner of the US.