Trade minister speaks of harmonious trade relationship with the US

Dien made this statement during a meeting with US Trade Representative Jamieson L. Greer in Washington, DC on March 13, where they discussed bilateral economic and trade cooperation.

This was the first official ministerial-level meeting between the two countries since the new US administration took office.

US Trade Representative Jamieson L. Greer and the Minister of Industry and Trade Nguyen Hong Dien. Photo: Ministry of Industry and Trade

Dien declared the US as one of Vietnam's most critical strategic partners and spoke of his eagerness to strengthen the comprehensive strategic partnership between the two nations in a practical, in-depth, and sustainable manner.

"The economies of Vietnam and the US are complementary, particularly in their trade structures, which has allowed bilateral trade to grow rapidly and remain stable for many years," said Minister Dien. "This helps establish key foundations and ensures national interests in bilateral cooperation."

Dien emphasised Vietnam’s consistent policy of promoting a balanced and mutually beneficial economic and trade relationship with the US. "Vietnam has no intention of creating obstacles that could harm American workers, economic security, or national security, and our government is implementing measures to encourage comprehensive and sustainable economic, trade, and investment relations between our two countries."

Dien also urged technical teams from both sides to continue discussions so that the US can recognise Vietnam’s market economy status. "This would be a significant decision, reflecting the status of our comprehensive strategic partnership," he added.

Meanwhile, Greer spoke of how the intent of the new trade policies is not to harm US partners, but rather to ensure that there will be mutual economic benefits in trade relations going forward.

"Vietnam needs to take stronger measures to further open its market and improve the trade balance between our two countries," said Greer.

Vietnam and the US have mutually agreed on the need for close coordination to foster a fair and sustainable business environment. To that end, the two countries pledged to proactively review and address trade barriers that hinder investment and business operations. Additionally, they emphasised the importance of establishing mechanisms to monitor and prevent trade fraud, origin misrepresentation, and illegal transshipment.

Diplomatic relations between Hanoi and Washington were established in 1995, with a comprehensive strategic partnership following in 2023. The US is Vietnam’s second-largest export market with bilateral trade volume reaching nearly $150 billion last year.

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