Vietnam, US seek to advance economic, trade cooperation: Minister of Industry and Trade Le Manh Hung (right) and US Secretary of Commerce Howard Lutnick (Photo: Department of Foreign Market Development under Vietnam's Ministry of Industry and Trade)

During a working visit to the US in mid-July, Minister of Industry and Trade Le Manh Hung, accompanied by the Vietnamese Ambassador to the US and senior officials from numerous ministries, met with US Secretary of Commerce Howard Lutnick on major directions for bilateral economic and trade cooperation.

Minister Hung affirmed that Vietnam attaches great importance to its Comprehensive Strategic Partnership with the US and seeks to work with Washington to establish a stable, predictable and mutually beneficial legal framework for trade that reflects the bilateral relationship and serves the interests of people and businesses in both countries.

He called on the US Department of Commerce to facilitate Vietnam’s removal from the D1 and D3 country groups under US strategic export controls. He also urged the US to consider granting comparability findings for Vietnam’s remaining 11 fisheries under the Marine Mammal Protection Act (MMPA), based on scientific and objective assessments and in recognition of the Southeast Asian country’s efforts to develop sustainable fisheries.

US Secretary of Commerce Lutnick spoke highly of relations with Vietnam and expressed support for the early conclusion of an agreement on reciprocal, fair, and balanced trade between the two countries. He pledged to continue coordinating closely with relevant US agencies to advance the process.

On this occasion, Minister Hung met US Under Secretary of State for Economic Affairs Jacob Helberg to discuss ways to strengthen cooperation in economy, trade, technology and supply chains.

The two sides explored opportunities in high technology, artificial intelligence, semiconductors and energy, while agreeing to enhance coordination and create favourable conditions for businesses to expand investment and operations in each other's markets.

US Under Secretary of State Helberg welcomed Vietnam’s efforts to strengthen ties with the US and voiced support for broader cooperation in technology, innovation and supply chains. He also pledged continued coordination with relevant US agencies to advance bilateral initiatives.

Earlier, Minister Hung, together with the Vietnamese Ambassador to the US and a Deputy Minister of Foreign Affairs, met US Senator Steve Daines to discuss measures to promote bilateral economic and trade relations.

Minister Hung reiterated Vietnam’s desire for the two sides to soon conclude negotiations and establish a stable, long-term and mutually beneficial framework for economic and trade cooperation.

He highlighted Vietnam’s efforts to improve its institutions, strengthen trade governance standards, protect intellectual property rights and implement international labour standards. The Minister also sought Senator Daines’ continued support for the US to recognise Vietnam as a market economy, remove the country from the D1 and D3 export control lists, and pursue appropriate trade policies that facilitate greater bilateral investment and business cooperation.

Senator Daines praised the positive development of Vietnam-US relations, describing Vietnam as a “sincere friend” of the US and a strategically important partner in the Indo-Pacific region.

The Senator acknowledged Vietnam’s goodwill and efforts in trade negotiations and expressed hope that the two sides would soon achieve positive outcomes. He also pledged to continue engaging with relevant US agencies, including the Office of the US Trade Representative (USTR), to further promote bilateral economic, trade and investment ties.