Kerry’s visit to heighten US engagement

US Secretary of State John Kerry - photo source AFP

In a press release issued last week, the US Department of State said, “in Hanoi from August 6-8, the secretary will meet with senior Vietnamese officials, including Deputy Prime Minister Pham Binh Minh to discuss bilateral and regional issues. He will also participate in an event marking the 20th anniversary of the establishment of US-Vietnam diplomatic relations.”

This will be the second diplomatic visit to Vietnam by Kerry, following his first in December 2013. Kerry said that “nothing is more important or more visible, frankly, than the heightened investment and engagement here in Vietnam.”

US Ambassador to Vietnam Ted Osius said last week that during Trong’s July 6-10 visit to the US, Trong and US President Barack Obama agreed that enhancing bilateral investment and trade co-operation was one of the biggest pillars in the two nations’ co-operation agenda in the time to come.

“Annual trade volume increased from less than $500 million to $35 billion over 20 years of normalised relations, although growth in US imports of Vietnamese goods has been faster than growth of our exports to Vietnam,” he said.

According to the ambassador, the US and Vietnam are now in the end game of negotiations for the Trans-Pacific Partnership (TPP). “We can anticipate that Vietnam’s participation in this high-standard trade and comprehensive agreement will lead to significant changes in management of the economy and new trade and investment opportunities as barriers fall. With Vietnam now in the TPP, and with its continued progress toward greater transparency and respect for rule of law, the US could become Vietnam’s number one investor, as it is in ASEAN as a whole.”

In order to enhance bilateral trade and investment, a grant agreement between the US Trade and Development Agency and the Civil Aviation Authority of Vietnam has been made to establish a direct air route between Vietnam and the US.

“We are making progress toward achieving Category One status, a necessary condition for direct flights between our two countries,” Osius said.