Vietnam sees economic ties with US as driver for stronger partnership: Prime Minister

Vietnam sees economic ties with US as driver for stronger partnership: Prime Minister 13/05/2022 08:52:00 20

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Vietnam sees economic ties with US as driver for stronger partnership: Prime Minister

13/05/2022 08:52:00

(VNA) The Government of Vietnam views the economic, trade, investment and financial relations with the US as a strong driver for boosting the bilateral comprehensive partnership, Prime Minister Pham Minh Chinh told US Trade Representative Katherine Tai in their Washington D.C meeting on May 12 morning (local time).

Chinh welcomed the US’s support for a strong, independent and prosperous Vietnam, saying Vietnam is pursuing a foreign policy of independence, self-reliance, multilateralisation and diversification of international relations.

Vietnam considers the US one of its top partners, the PM said, adding that Vietnam wants to together with the US deepen the bilateral comprehensive partnership and make it more practical and stable in the long term, on the basis of respecting each other’s independence, sovereignty, territorial integrity and political system, contributing to the global and regional peace, stability, cooperation and development.

He went on to say that Vietnam’s economy is growing well as it has entered the post-pandemic “new normal” phase thanks to the international donation of COVID-19 vaccines, a large volume of which came from the US via the COVAX Facility.

He expected enterprises of both sides will further enhance cooperation based on the harmony of interests and the sharing of risks and affirmed that Vietnam will continue developing an independent economy; deepening international economic integration; and promoting a selective investment policy, advanced technology, digital economy, renewable energy and diversification of supply chains.

The Vietnamese leader also highly spoke of the Office of the US Trade Representative’s efforts in accelerating trade between the two countries and resolving issues to prevent the two-way trade from disruptions. 

He expressed his delight at the growth of the bilateral economic-trade relations, noting that the US’s exports to Vietnam reached USD 15.3 billion in 2021, up 11.7 percent from the previous year, making Vietnam the US’s leading trade partner in Southeast Asia. 

He also welcomed the Office of the US Trade Representative’s attention to Vietnam’s concern over anti-dumping investigations on goods originating from Vietnam and looked forward to the US’s effective cooperation in this matter.

Vietnam hopes the US will facilitate Vietnamese exports and is ready to discuss with the US about its concerns anywhere and anytime, Chinh said.

US Trade Representative Tai, for her part, reiterated that the US will continue supporting Vietnam’s recovery post-COVID-19. She also highly valued the PM’s visit to the US, saying it marks a milestone for further strengthening the comprehensive partnership between the two sides.

She appreciated Vietnam’s commitments in its action plan as well as the effective operation of working groups in wood and monetary issues, saying she expects the two countries can foster the economic, trade, investment and financial relations more strongly and maintain a stable framework of trade and investment towards sustainable trade balance.

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