Pham Minh Chinh stressed the intention to make cooperation more practical and stable in the long term.
The Government of Vietnam views economic, trade, investment and financial relations with the United States as a powerful driving force for strengthening bilateral comprehensive partnership. This was stated by the Prime Minister of the Socialist Republic of Vietnam (SRV) Pham Minh Chinh at a meeting in Washington with U.S. Trade Representative Katherine Tai, the Vietnamese News Agency reported on Friday.
“Vietnam considers the United States one of its main partners. Together with the United States, we want to deepen the bilateral comprehensive partnership and make it more practical and stable in the long term based on respect for each other’s independence, territorial integrity and political system,” the head of government said. He expressed satisfaction with the growth of bilateral trade and economic relations, noting that American exports to Vietnam reached $15.3 billion in 2021, which is 11.7% more than in the previous year, which made Vietnam the leading trade partner of the United States in Southeast Asia.
The U.S. Trade Representative, for her part, confirmed that the U.S. will continue to support the recovery of the Vietnamese economy in the post-pandemic period. She also expressed confidence that the two countries will be able to more actively develop trade, economic, financial and investment relations, which will contribute to maintaining a stable balance of mutual trade.
Vietnam and the United States officially restored bilateral relations interrupted by the Vietnam War in 1995. Over the past period, the United States has become Vietnam’s second largest trade and economic partner. Bilateral trade increased from $450 million in 1994 to almost $112 billion by the end of 2021. Now the United States ranks 11th among 140 countries and territories investing in the Vietnamese economy. American business implements 1,145 projects in Vietnam with a total capital of more than $10.3 billion.