On May 7, 2025, Minister of Industry and Trade, Chief Government Negotiator Nguyen Hong Dien chaired a meeting with major Vietnamese corporations and enterprises to promote the implementation of trade agreements with the United States, following the Prime Minister’s directive to drive trade balance between the two countries.
Minister Dien highlighted that over the years, these corporations have imported a significant volume of products from the US, including aircraft, machinery, equipment, turbines for gas-fired power plants, electricity transmission systems, GPU chips, and raw materials, totaling several billion dollars.
During the meeting, representatives of the corporations reported on the progress of purchase agreements signed in 2025 and provided assessments and forecasts for the demand for importing equipment, goods, services, and raw materials in which the US has a competitive advantage this year and in the coming years.
The corporations stated that from now until June 2025, they will intensify engagements and negotiations with US partners to expedite contracting and materialize signed memoranda of understanding.
Minister Nguyen Hong Dien acknowledged that Vietnam has a substantial, valuable, and stable demand for purchasing goods, equipment, and services from the United States, which aligns with America’s strengths and Vietnam’s needs.
However, he frankly stated that trade exchanges between the two countries have not yet lived up to their potential. Therefore, both sides need to urgently review and address any obstacles, facilitating businesses in trading essential products and fulfilling each other’s needs.
Concurrently, Mr. Dien urged enterprises to be more proactive in realizing this immense potential. This practical action will substantially enhance economic, trade, and investment cooperation between Vietnam and the United States, fostering a harmonious and sustainable balance of trade.
“Ensuring the Steady Commercial Flow of Vietnamese Goods into the US Market”
The export goods of Vietnam do not directly compete with those manufactured in the US. Moreover, Vietnam’s key export commodities adhere to US technical standards, and the country boasts a dynamic, skilled workforce with a strong work ethic.
The Ultimate Guide to April’s Trade Boom: Unveiling the 16.5% Surge and FDI Dominance
As of April 15, 2025, the country’s total trade value for the year reached a remarkable $237.97 billion, reflecting a significant 16.5% increase compared to the same period in 2024.
U.S.-Vietnam Relations: Trade Agreements Worth $90.3 Billion Signed
The total value of economic and trade agreements between Vietnamese and American businesses, expected to be implemented in the phase from 2025 onwards, amounts to a staggering $90.3 billion. This will create hundreds of thousands of jobs for workers in both countries, opening up a world of opportunities and strengthening the economic ties between Vietnam and the United States.
The Prime Minister: Proactive and Agile in the Face of Global Economic Flux
As economic and trade policies evolve globally, the Prime Minister has urged for a proactive and agile approach. We must closely monitor these dynamic policy changes and respond with flexibility and feasibility for each market. To thrive in this evolving landscape, we should focus on fostering stronger partnerships with key players, reviewing tax policies, and strategically investing in high-tech sectors and innovation.
International Trade in the First Month of 2025 Sees a Slight Dip, but a Trade Surplus of Over $3 Billion is Still Achieved
The country’s total import and export turnover of goods in January 2025 reached an impressive 63.15 billion USD. A breakdown of this figure reveals that exports accounted for 33.09 billion USD, while imports stood at 30.06 billion USD. This positive trade balance indicates a significant surplus of 3.03 billion USD, showcasing a thriving economic landscape.
