Negotiations with the United States Continue to Establish a New Framework, Facilitating Smoother Exports for Vietnamese Businesses
During the session, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan reported on tasks related to private economic development, the completion of the Go Global program to support businesses in international markets, and the Trade Agreement with the United States.
Specifically, regarding private economic development, the Deputy Minister stated that in 2025, the Ministry of Industry and Trade is tasked with amending and supplementing Decree No. 75/2019/NĐ-CP on administrative penalties in the field of competition and Decree No. 32/2024/NĐ-CP on the management and development of industrial clusters.
These tasks aim to introduce mechanisms and policies requiring localities to allocate a minimum of 20 hectares per industrial cluster or 5% of the total land area with invested infrastructure to high-tech enterprises, SMEs, and innovative startups for lease. The Ministry of Industry and Trade plans to submit this to the Government in December.
Regarding the completion of the Go Global program to support businesses in international markets, Deputy Minister Tan noted that the Ministry has finalized the draft and is currently gathering feedback from relevant units, with plans to submit it to the Government in November.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan (Photo: VGP/NB)
In addition to assigned tasks, the Ministry of Industry and Trade has undertaken numerous activities to support the private sector. Notably, the Ministry has focused on enhancing trade promotion in localities by organizing concentrated promotional fairs during special occasions, such as the recent Autumn Fair, which has proven effective and garnered public support.
Ministry leaders highlighted their focus on digital transformation and e-commerce development, given Vietnam’s e-commerce sector is currently growing at a monthly rate of 20-27%, a significant figure that lays the foundation for digital economic growth.
Furthermore, the Ministry of Industry and Trade continues to strengthen negotiations and expand export markets, with a focus on niche markets. Recently, the Ministry submitted a resolution to the Government for the approval of the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) and completed negotiations to upgrade agreements within ASEAN.
The Ministry is also promoting, negotiating, and signing new Free Trade Agreements (FTAs) with relevant countries, such as the FTA between Vietnam and the EFTA bloc (Switzerland, Norway, Iceland, and Liechtenstein), and is in negotiations with countries like Pakistan and Latin American nations.
Lastly, regarding the Trade Agreement with the United States, Deputy Minister Nguyen Sinh Nhat Tan announced that the Minister of Industry and Trade and a government delegation will soon visit the United States to continue negotiations aimed at creating a new framework to facilitate smoother exports for Vietnamese businesses.
Previously, on October 26, Vietnam and the United States agreed to issue a Joint Declaration on a Fair and Balanced Trade Agreement during the ASEAN Summit from October 26-28, attended by President Donald Trump and Prime Minister Pham Minh Chinh.
The Joint Declaration outlines key components of the Fair and Balanced Trade Agreement. Vietnam and the United States will collaborate constructively to address concerns regarding non-tariff barriers, unify commitments related to digital trade, services, and investment, and discuss intellectual property, sustainable development, and supply chain resilience.
Moving forward, both parties will continue discussions and implement subsequent steps toward finalizing the Fair and Balanced Trade Agreement, based on principles of openness, constructiveness, equality, respect for independence, autonomy, political institutions, mutual benefit, and consideration of each other’s development levels.
Nguyet Luong
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