VNExpress-May 7
Vietnam has “significant and consistent” demand for imports of high-value goods and services from the U.S., according to Minister of Industry and Trade Nguyen Hong Dien. Businesses should take the initiative to strike trade deals with American partners, he said Wednesday while speaking at a meeting with executives of major companies including Petrovietnam, Vietnam Electricity, Vietnam Airlines, Vietjet, Thaco, and Viettel. Current trade with the U.S. does not reflect the full bilateral potential, and the two countries need to achieve a “balanced, harmonious and sustainable trade” with businesses needing to take proactive steps, he said. In recent years major Vietnamese companies have imported many U.S. products like aircraft, machinery and equipment, turbines for gas power plants, power transmission systems, graphics processing units, and others worth billions of U.S. dollars. In March, during Dien’s visit to Washington, businesses from the two nations signed economic and trade deals worth US$4.15 billion. Negotiations for agreements worth another $36 billion are underway, and they are expected to be finalized soon. In all, trade and economic agreements planned for implementation from 2025 are projected to exceed $90 billion. In the first quarter of 2025 Vietnam exported $31.4 billion worth of goods to the U.S. while its imports were worth $4.1 billion, marking a 20% increase in trade year-on-year. Also Wednesday Dien met with U.S. ambassador to Vietnam, Marc E. Knapper and reaffirmed Vietnam’s commitment to bilateral cooperation and sought U.S. support in promoting “harmonious, sustainable and long-term” trade. Read more at:
