During his working visit to the United States, Minister of Industry and Trade and Chief Negotiator of the Government, Nguyen Hong Dien, met with Senator Ted Cruz, Chairman of the Senate Commerce Committee, and Senator Steve Daines, member of the Senate Finance and Foreign Relations Committees. The Minister also held a working session with US Secretary of Commerce, Howard Lutnick.

In the meetings with the Senators, Minister Nguyen Hong Dien emphasized Vietnam’s commitment to promoting bilateral economic and trade cooperation in a harmonious and sustainable manner, bringing practical benefits to the people and businesses of both countries.

“Vietnam always facilitates US businesses to invest and operate effectively, and proposes that the US considers Vietnam as a priority trade partner, especially as the two countries have officially upgraded their relations to a Comprehensive Strategic Partnership,” affirmed the Minister.

Regarding the bilateral trade negotiation process, the Minister affirmed that Vietnam is ready to closely coordinate with the US to work towards a trade agreement based on respect for sovereignty, balance of interests, and compatibility with international commitments and the level of development of each country. He also requested the Senators’ support and promotion of this process.

The US Senators highly appreciated the development potential of the Vietnamese market, especially in the fields of industry, energy, high technology, and the digital economy.

The Senators stated that many large US businesses are very interested in and closely monitoring Vietnam’s policies and investment environment. They also expressed their desire to expand their business and long-term investment in this strategic market in the Asia-Pacific region.

Minister of Industry and Trade Nguyen Hong Dien works with Senator Steve Daines.

Both sides expected that the comprehensive Vietnam-US relationship would continue to be strengthened and developed, especially as the global economy is undergoing a strong restructuring of supply chains and expanding into dynamic and stable markets like Vietnam.

At the working session with US Secretary of Commerce Howard Lutnick, the two Ministers agreed that Vietnam and the US have highly complementary economies and great potential for cooperation.

Minister Nguyen Hong Dien shared that Vietnam has a large and stable demand for products, equipment, and services in which the US has strengths, especially in high-tech and energy fields.

“Vietnam is committed to promoting a transparent and healthy trade environment and is ready to enhance coordination with the US in preventing trade fraud, origin fraud, and illegal transhipment,” affirmed Minister Nguyen Hong Dien. With the orientation of becoming a high-income developed country by 2035, Vietnam considers the US as one of its leading strategic partners and wishes to promote economic and trade relations towards balance, sustainability, and mutual benefit.

The Minister of Industry and Trade requested that the US work with Vietnam to resolve existing issues in the current economic and trade relations, soon recognize Vietnam as a market economy, and remove Vietnam from the D1 and D3 lists that restrict exports of high-tech products. This will bring practical benefits to both countries and improve the trade balance in a fair, harmonious, and sustainable manner.

The US Secretary of Commerce, Howard Lutnick, appreciated Vietnam’s efforts and goodwill in negotiating the Bilateral Reciprocal Trade Agreement. He welcomed the enhanced cooperation between the two countries in high-tech fields and those with high added value.

“Vietnam is an important and attractive market for US businesses,” affirmed Secretary Howard Lutnick. He also hoped that Vietnam would continue to facilitate US investment projects, contributing to expanding two-way trade, especially imports from the US.

The two sides agreed to continue promoting technical dialogues and maintaining high-level exchanges to achieve substantive progress in the negotiations and build a stable and long-term economic and trade cooperation framework.

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