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Potential for Vietnam - US trade relations

by VTV429 May 2017 Last updated at 18:16 PM

VTV.vn - Prime Minister Nguyen Xuan Phuc's official visit to the US is expected to be an important milestone in the two countries' relationship.

Boeing has signed a contract to provide 100 Boeing 737s for Vietjet Airlines. Currently, the company is providing technical support for Vietnam to establish a direct flight to the US.

Boeing isn't the only American company to see potential in Vietnam. Vietnam's Ministry of Industry and Trade says that Vietnam ranks 16th in the list of the US's biggest economic partners in 2016. Trade grows  at 20% average annually. Even though Vietnam has a trade surplus with the US, experts believe American companies are still profiting from this.

The White House officially announced that US President Donald Trump will receive PM Nguyen Xuan Phuc on May 31st. The meeting is hoped to bring trade between the two countries to new heights.

Boeing planes are set to be delivered to Vietnam soon. Thanks to deals like these, total trade turnover between the US and Vietnam is forecast to rise from 47 billion to 57 billion USD by 2020.

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