Vietnam-US relations 20 years after embargo ends

(VOV) - Since the US lifted its embargo against Vietnam in 1994, trade relations between the two nations have seen positive and steady improvement.

February 3, 2014 marks the 20th anniversary since the end of the US embargo and comes on the backdrop of commitments by Presidents Truong Tan Sang and Barack Obama to establish a comprehensive partnership in 2013.

US former President Bill Clinton’s decision to lift the trade embargo against Vietnam removed the final barrier to move towards the normalization of bilateral ties, and opened up a new chapter in Vietnam-US relations.

In the past 20 years, two-way trade has skyrocketed to more than US$30 billion in 2013 from 1994’s more than 200 million. Total US investment in Vietnam reached US$11 billion last year and ranked the US seventh among foreign investors in the Southeast Asian nation.

Apart from economic-trade links, Vietnam-US relations have also grown considerably on a host of fronts including politics-diplomacy, science-technology, education-training, security-defence, healthcare, the environment, and dealing with the consequences of the war.

In an interview about prospects for improved bilateral cooperative relations granted to a Voice of Vietnam Radio (VOV) Washington-based correspondent, Vietnam ambassador to the US Nguyen Quoc Cuong said this year will offer a tremendous opportunity for Vietnam-US ties to thrive.

The important thing is how to minimize differences in the two sides’ strategic visions and raise their comprehensive partnership to new heights in the future, which is in the best interests of the two peoples and for the sake of peace, stability, cooperation and development in the region and the world.