PM suggests Vietnam, US create cooperation breakthroughs

Host and guest shared the view that the formation of the Comprehensive Strategic Partnership for peace, cooperation and sustainable development on the occasion of the recent state visit to Vietnam by President Joe Biden will open up a new stage for the intensive and extensive cooperation between the two countries, particularly in economy, trade and investment.

Chinh thanked the Trade Representative for her contributions to the development of the bilateral ties, and suggested the two sides actively coordinate to quickly materialise agreements reached by their high-ranking leaders, including the US’s priority of accelerating the recognition of Vietnam’s market economy mechanism, and further opening door for Vietnamese goods like garments-textiles, footwear and farm produce, as well as its consideration of interests of Vietnamese businesses, and not imposing trade remedies on Vietnamese goods on the basis of ensuring balance, fairness and mutual benefits.

The PM also suggested the US help Vietnam in building a semiconductor-related supply chain.

Tai, for her part, emphasised the importance of the Comprehensive Strategic Partnership, which, she said, will open up opportunities for the two sides to boost their economic-trade ties.

Recalling her visit to Vietnam in February, the Trade Representative said it helped her understand much more about the Southeast Asian nation.

The US always regards Vietnam as an important partner in the region, and hopes for stronger economic and trade cooperation, she said, pledging that the Office of the Trade Representative will further play a role in enhancing the bilateral relations in the time ahead.

Tai also noted her hope that Vietnam will continue supporting efforts to soon conclude the discussion of the Indo-Pacific Economic Framework for Prosperity (IPEF), for the sake of countries and people in the region.

The same day, Chinh met with US Commerce Secretary Gina Raimondo, during which the PM affirmed that Vietnam has taken economic-trade-investment cooperation as a foundation and a driving force of the Comprehensive Strategic Partnership.

He highly valued practical contributions by the US Department of Commerce and its Secretary to fostering the trade ties between the two countries over the past time.

To effectively implement the Comprehensive Strategic Partnership, the PM suggested the US soon recognise Vietnam’s market economy mechanism, pay more attention to enhancing the economic-trade relations, especially encouraging US high-tech firms to operate in Vietnam, and step up delegation exchange and experience sharing.

The two countries should promote collaboration in climate change response, green growth and renewable energy, he continued.

Raimondo shared Chinh’s views on the importance of President Biden’s Vietnam visit earlier this month, and the establishment of the Comprehensive Strategic Partnership.

US firms are interested in seeking business and investment opportunities in Vietnam, the official said, expressing her belief that after the conclusion of the IPEF discussion, more US businesses and investment funds will inject capital in the Southeast Asian nation.

Chinh suggested the US further open its door for Vietnamese goods like electronics, garment-textiles, footwear, agricultural products and fresh fruits, and work together with Vietnam to maintain the growth pace of the two-way trade.

Raimondo pledged to urge the US to soon recognise Vietnam’s market economy mechanism, and coordinate to put in place the contents agreed in the joint statement, especially in economy, trade and investment, thus making the bilateral cooperation more intensive, extensive, substantive and effective.