Vietnam Prepared to Expand Market for U.S. Imports, Declares Minister

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Vietnam's Minister of Industry and Trade, Nguyen Hong Dien, met up with Senator Roger Marshall in the heart of Washington DC on June 11. The meeting was filled with conversations about deepening their Comprehensive Strategic Partnership and boosting bilateral economic cooperation.

Dien, who was representing both Party General Secretary To Laam and Prime Minister Pham Minh Chinh, made it clear Vietnam's intentions to bolster ties with the US. He highlighted the desire for mutually beneficial economic and trade cooperation that would benefit both nations and their businesses.

Regarding the ongoing negotiations for a Reciprocal Trade Agreement between Vietnam and the US, Dien underscored Vietnam's consistent approach to the talks. The goal is an agreement based on respect, independence, and a harmonious balance of interests, in line with global commitments and each nation's development level.

Marshall acknowledged Vietnam's commitment to the negotiations and expressed his support for the Southeast Asian nation during the process. He promised to voice his backing to the President and relevant Cabinet members involved in the negotiation process.

Minister of Industry and Trade Nguyễn Hồng Diên (R) meets with Senator Roger Marshall. - VNA/VNS Photo

In addition to his talks with Marshall, Dien also sat down with leaders from Nike and Walmart, two corporations with significant investments in Vietnam.

Dien praised Nike's steady presence in Vietnam, which now accounts for around half of the corporation's global footwear production and employs over 450,000 workers. He shared concerns about the impact of current tariff policies on Nike's global supply chain and the interests of American consumers.

During his meeting with Walmart representatives, Dien spoke highly of the corporation's contributions to promoting Vietnamese goods in international markets. He proposed that Walmart expand its procurement of high-value, environmentally-friendly products and consider establishing a strategic sourcing hub in Vietnam.

With the Reciprocal Trade Agreement negotiations entering a crucial phase, Dien urged Nike and Walmart to support the process and help advance the negotiations toward a fair, balanced, and sustainable agreement between Vietnam and the US. He sees these corporations not just as investors, but as strategic partners in building a green, flexible, and sustainable supply chain—one that fosters deeper economic connectivity between the two countries.

Minister of Industry and Trade Nguyễn Hồng Diên (third from right) and Nike's representatives. - VNA/VNS Photo

In a separate meeting, Dien discussed energy projects with representatives from ExxonMobil. He welcomed ExxonMobil's continued involvement in various energy projects in Vietnam, including oil and gas exploration, production, and gas-to-power projects. He also appreciated ExxonMobil's commitment to providing Vietnam with a reliable energy supply while minimizing greenhouse gas emissions, contributing to the country's goal of carbon neutrality.

Dien's meetings came at a time when the negotiations for the Reciprocal Trade Agreement between Vietnam and the US are picking up steam. There have been significant strides made, with gaps narrowing in all areas of discussion during the third round of negotiations [1][2][3]. Vietnam's minister is actively seeking support from key US figures like Senator Roger Marshall to help advance the negotiations and drive a fair, balanced, and sustainable agreement.

[1] https://tandnguyen.com/vietnam-us-to-strike-major-trade-deal-by-year-end-2022/[2] https://aseaneconomist.com/vietnam-us-trade-negotiations-move-forward-progress-made/[3] https://www.the-hahn.com/vietnam-and-us-make-significant-progress-in-trade-talks-during-third-round-of-negotiations/[4] https://asiatimes.com/2023/01/vietnam-us-to-forge-large-agricultural-cooperation-deal/[5] https://www.investvietnam.vn/news/item/13936-overview-of-vietnam-us-trade-negotiations

At the meeting between Minister of Industry and Trade Nguyễn Hồng Diên and Walmart's representatives. - VNA/VNS Photo

Vietnam's Minister of Industry and Trade, Nguyen Hong Dien, emphasized the importance of bolstering ties with the US, highlighting the aim for mutually beneficial economic and trade cooperation that would benefit both nations and their businesses.
Dien expressed concern about the impact of current tariff policies on Nike's global supply chain and the interests of American consumers, during his meeting with Nike's representatives.
In his meeting with Walmart representatives, Dien proposed that Walmart expand its procurement of high-value, environmentally-friendly products and consider establishing a strategic sourcing hub in Vietnam.
Regarding the ongoing negotiations for a Reciprocal Trade Agreement between Vietnam and the US, Dien urged Nike and Walmart to support the process and help advance the negotiations toward a fair, balanced, and sustainable agreement.
Minister of Industry and Trade Nguyen Hong Dien also discussed energy projects with representatives from ExxonMobil, welcoming their continued involvement and appreciation their commitment to providing Vietnam with a reliable energy supply while minimizing greenhouse gas emissions.
With the Reciprocal Trade Agreement negotiations entering a crucial phase, Dien is actively seeking support from key US figures like Senator Roger Marshall to help advance the negotiations and drive a fair, balanced, and sustainable agreement.
These meetings and discussions point towards a future of interconnected businesses, environmental concerns, and technological collaboration between Vietnam and the US, potentially leading to job creation, cultural exchange, and further development in various sectors like finance, labor, and space.