Vietnam, US trade partnership reaches new heights amid strategic talks

Vietnam and the United States are intensifying their economic and trade cooperation, with both sides aiming to foster a stable and mutually beneficial relationship.

Minister of Industry and Trade Nguyen Hong Dien met with US Trade Representative Jamieson L. Greer on March 13 to advance bilateral ties, marking the first official ministerial-level meeting since the new US administration took office, Caliber.Az reports citing foreign media.

During the talks, both parties expressed satisfaction with the positive trajectory of their relationship, which spans 30 years of diplomatic ties, 10 years of comprehensive partnership, and two years of comprehensive strategic partnership. Economic, trade, and investment cooperation have become key pillars of their bilateral relations, with trade volume reaching nearly $150 billion in 2024. The US is now Vietnam's second-largest trading partner and one of its most significant export markets.

Minister Dien reaffirmed that Vietnam considers the US a top-priority partner and is committed to developing a substantive, sustainable, and profound comprehensive strategic partnership. "Vietnam’s consistent policy is to build harmonious, sustainable, stable, and mutually-beneficial economic and trade ties with the US," he said, stressing that Vietnam has no intention to create any barriers that could harm the US' workers or economic and national security.

The meeting also focused on specific measures to enhance cooperation. Dien proposed that technical teams from both countries continue discussions toward the US recognizing Vietnam's market economy status, a step he described as crucial for the comprehensive strategic partnership.

Greer, in turn, acknowledged Dien’s proactive approach in addressing US concerns. He emphasized that the new US trade policy aims to promote trade and investment while safeguarding US economic and national security. “Trade exchanges must achieve rational economic benefits,” Greer noted, calling on Vietnam to adopt stronger measures to open its market and improve the trade balance.

Both sides agreed to conduct regular technical consultations to address specific issues, ensuring the creation of a fair, sustainable business environment and reinforcing their strategic partnership.

By Vafa Guliyeva