Following the Prime Minister’s directive to promote fair, sustainable, and long-term trade between Vietnam and the United States, and to support the upcoming negotiations with the US, the Ministry of Industry and Trade organized a conference on May 8 to boost Vietnam-US trade relations.
The conference acknowledged that the US is a comprehensive strategic partner and a significant export market for Vietnam. It is also the 8th largest trading partner of the United States, with American consumers being familiar with and fond of Vietnamese products due to their good quality and reasonable prices.
Vietnamese exports do not directly compete with goods manufactured in the US, so they do not harm American producers or businesses. Instead, they offer US consumers access to quality products at competitive prices.
The US market offers significant potential for growth, and Vietnamese businesses and industry associations are keen to maintain and expand their presence there. However, it is important to recognize that the US is not the only market with potential for Vietnamese goods. Vietnam has free trade agreements with nearly 70 economies, opening up a world of opportunities for cooperation and trade with other major global players.
During the conference, representatives from various ministries and functional units within the Ministry of Industry and Trade shared insights into new regulations and policies in global markets, including updates on the US market. They also addressed the challenges faced by industry associations and major exporters to the US market.
The conference noted the proposals and recommendations of the associations and businesses to overcome difficulties in production and exports in the future.
To further support the government and the negotiating team working with the US, the Ministry of Industry and Trade requested that businesses and industry associations with key exports to the US continue to provide specific information, data, and figures to demonstrate the compliance of Vietnamese goods with US standards, prove their origin, and address other US requirements.
Additionally, they should proactively voice their concerns through letters and complaints to relevant US authorities, opposing unreasonable countervailing duty policies. Coordinating with American business partners to advocate for the continuation of trade flows and gaining the support of American consumers and policymakers are also essential steps.
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