Vietnam Aims for Continuous Strengthening of Relations with US: Prime Minister
Take it easy! Let's chat about the recent meeting between Vietnam's Prime Minister Phạm Minh Chính and the US Congress’s US-China Economic and Security Review Commission's chair, Reva Price.
Vietnam & US Relations
Vietnam values its Comprehensive Strategic Partnership with the US and hopes the bilateral relationship keeps momentum, Prime Minister Phạm Minh Chính stated on May 7. Chính met with Price and her delegation. Vietnam's foreign policy aims for independence, self-reliance, openness, multilateralism, and diversification of relations, along with its "Four No's" defense policy.
Economic Ties
Chính shared Vietnam's desire for a strong, independent, resilient, and prosperous nation. He asked the US to acknowledge Vietnam’s market economy status, remove it from strategic export control lists, and boost technology transfer. This would promote balanced and sustainable trade ties, the PM said. He voiced optimism about ongoing negotiations regarding tariffs between the two nations, viewing them as an opportunity for economic restructuring and integration.
Regional Issues
Chính emphasized Vietnam's stance on addressing the East Sea (South China Sea) issue peacefully, consistent with international law. He supported efforts to implement the Declaration on the Conduct of Parties in the East Sea (DOC) and to negotiate a substantive and effective Code of Conduct (COC). Price expressed her admiration for Vietnam's development and agreed with PM Chính's proposals. She pledged continued support for bilateral relations, including advocating for Vietnam's market economy recognition and tariff negotiations.
Small FYIVietnam has been pursuing US recognition as a market economy for years, with no success so far. The current tariff negotiations aim to rebalance trade relations between the two countries. In recent years, Vietnam's exports to the US have surged, complicating these negotiations. The US is Vietnam's primary export destination, so the tariffs have been a concern for Vietnam's export-reliant economy.
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Prime Minister Phạm Minh Chính (right) met with Reva Price, chair of US Congress's US-China Economic and Security Review Commission on May 7. - VNA/VNS Photo
Sources: 1 - VNA 2 - VNS 3 - Reuters 4 - USITC 5 - Nikei Asia
- The recent meeting between Vietnam's Prime Minister Phạm Minh Chính and the US Congress’s US-China Economic and Security Review Commission's chair, Reva Price, discussed Vietnam's Comprehensive Strategic Partnership with the US, aiming to maintain its momentum.
- During the meeting, Prime Minister Chính emphasized Vietnam's desire for a strong, independent, resilient, and prosperous nation, and requested the US to acknowledge Vietnam’s market economy status, remove it from strategic export control lists, and boost technology transfer.
- In a move to promote balanced and sustainable trade ties, PM Chính voiced optimism about ongoing negotiations regarding tariffs between the two nations, viewing them as an opportunity for economic restructuring and integration.
- Chính also shared Vietnam's stance on addressing the East Sea (South China Sea) issue peacefully, consistent with international law, and discussed efforts to implement the Declaration on the Conduct of Parties in the East Sea (DOC) and to negotiate a substantive and effective Code of Conduct (COC).
- The discussion between Chính and Price also touched on policy-and-legislation matters, including the long-standing issue of Vietnam's pursuit of US recognition as a market economy and the current tariff negotiations aimed at rebalancing trade relations between the two countries.
- As Vietnam's primary export destination, the tariffs have been a concern for Vietnam's export-reliant economy, and the meeting marked a significant opportunity for both nations to address these concerns and strengthen their economic and political ties, influencing the general-news landscape and global business and politics.
