Việt Nam ready to further open market for US exports: Minister

Việt Nam ready to further open market for US exports: Minister

Việt Nam is ready to further open its market and offer more incentives for US exports, hoping for reciprocal steps, Minister Nguyễn Hồng Diên told Senator Roger Marshall in Washington DC on June 11 (local time).

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

Việt Nam is ready to further open its market and offer additional incentives for US exports, and hopes for corresponding steps from the US side, Minister of Industry and Trade Nguyễn Hồng Diên told Senator Roger Marshall at their meeting in Washington DC on June 11 (local time).

Diên conveyed the message from Party General Secretary Tô Lâm and Prime Minister Phạm Minh Chính to the senator, affirming Việt Nam’s determination to enhance its Comprehensive Strategic Partnership with the US, as well as its desire to promote bilateral economic and trade cooperation for the mutual benefit of their people and businesses.

Regarding the ongoing negotiations on a Reciprocal Trade Agreement between the two countries, he emphasised that Việt Nam remains consistent in its approach to the talks with the US, aiming for a bilateral agreement based on respect for sovereignty, independence, political system, harmonisation and balance of interests, as well as in line with international commitments and the development level of each country.

The minister expressed his hope that Marshall, with his strong political influence within the Republican Party and deep expertise in trade, agriculture, and innovation, will voice his support for Việt Nam during the negotiation process, and act as a bridge to promote cooperation between Việt Nam and the US in general, and with Kansas state in particular, especially in areas where Kansas has strengths such as agriculture, aerospace, and biotechnology.

Marshall appreciated Việt Nam’s seriousness, proactive approach, and goodwill in the negotiations with the US. The Senator stated that he will soon raise the matter with the President and relevant Cabinet members involved in the negotiation process and expressed his hope for positive outcomes from both sides.

Additionally, the Senator spoke highly of the minister’s working visit, noting that it will open up many opportunities for bilateral collaboration across various fields.

On the same day, the Vietnamese minister held meetings with leaders of Nike and Walmart that have maintained large-scale investment and business operations in Việt Nam.

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

At the meeting with leaders of Nike, Diên praised the corporation’s long-standing and responsible presence in Việt Nam, which currently accounts for around 50 per cent of Nike’s global footwear production and provides jobs for over 450,000 workers.

He also shared concerns about the latent impact of current tariff policies on Nike’s global supply chain and on US consumer interests. Diên proposed several strategic directions for supporting Nike’s operations in Việt Nam. The minister affirmed that Việt Nam does not see Nike merely as an investor, but as a strategic partner in its sustainable development and international integration.

In his meeting with leaders of Walmart – the world’s largest retail corporation, Diên acknowledged Walmart’s contributions to promoting Vietnamese goods in global markets. He proposed the retailer expand its procurement of high value-added, and environmentally friendly products, and consider establishing a strategic sourcing hub in Việt Nam.

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

The minister also encouraged collaboration on strengthening supplier capacity through sharing technical standards and providing training.

Regarding challenges Walmart has faced in its business operations in Việt Nam, Diên affirmed that the Ministry of Industry and Trade will coordinate with the Ministry of Finance and other relevant agencies to review and improve policies, ensuring transparency and alignment with international practices.

Highlighting the crucial role of the US business community as negotiations for the Reciprocal Trade Agreement enter a pivotal phase, the minister called on Nike and Walmart to voice strong support for the process and help advance the negotiations toward a fair, balanced, and sustainable agreement between Việt Nam and the US.

He emphasised that Việt Nam not only hopes Nike and Walmart will continue to thrive in the Vietnamese market but also sees them as strategic partners in building a green, transparent, flexible, and sustainable supply chain, thus contributing to deeper economic connectivity between the two countries.

Earlier, on June 10, the Vietnamese minister had a working session with Vice President for ExxonMobil Product Solutions Ventures Jennifer M. Chan and Vice President of ExxonMobil Chemical International Major Growth Ventures Zoe Barinaga, during which he welcomed the corporation’s ongoing cooperation in various energy projects in Việt Nam, including oil and gas exploration and production, as well as gas-to-power projects.

He also appreciated ExxonMobil’s commitment to providing Việt Nam with a reliable energy supply while minimising greenhouse gas emissions, contributing toward the goal of carbon neutrality.

The ExxonMobil representatives affirmed their strong confidence in Việt Nam’s economic growth prospects and the country’s potential, which are the key reasons why ExxonMobil has been actively developing multiple projects in Việt Nam. 

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