Việt Nam hopes to reach reciprocal trade agreement with US soon: PM

Việt Nam hopes to reach reciprocal trade agreement with US soon: PM

Prime Minister Lê Minh Hưng welcomed the positive results achieved in negotiations on a fair and balanced Việt Nam – US reciprocal trade agreement and praised the role of the Office of the US Trade Representative and Ambassador Switzer personally.

Prime Minister Lê Minh Hưng with US Deputy Trade Representative Rick Switzer in Hà Nội on May 20. — VNA/VNS Photo Dương Giang

The Government will continue to work closely with the US to finalise an agreement on reciprocal, fair and balanced trade to further deepen economic, trade, and investment cooperation, the main driving force for bilateral relations.

This was the message from Prime Minister Lê Minh Hưng at a reception in Hà Nội on May 20 for Ambassador Rick Switzer, Deputy US Trade Representative, during his working visit to Việt Nam.

At the meeting, PM Hưng said he appreciated the achievements in Việt Nam and US cooperation in recent years across political-diplomatic, economic and trade, defence and security, science and technology and innovation sectors, as well as collaboration on international and regional issues of mutual concern.

He expressed his hope that both sides will continue to closely coordinate in deepening the Comprehensive Strategic Partnership, bringing practical benefits to the people of both countries, and contributing to peace, stability, development, and prosperity for the region and the world, in line with the directions of General Secretary of the Communist Party of Việt Nam Central Committee and State President Tô Lâm and US President Donald Trump.

Prime Minister Hưng welcomed the positive results achieved in negotiations on a fair and balanced Việt Nam – US reciprocal trade agreement and praised the role of the Office of the US Trade Representative and Ambassador Switzer personally.

He emphasised that the Government always welcomes and is ready to provide the most favourable conditions for US businesses to expand investment and conduct successful, effective operations in Việt Nam, contributing to development goals.

According to PM Hưng, Việt Nam does not have a policy of overcapacity and Vietnamese businesses operate under market mechanisms. The two economies are complementary rather than directly competitive.

Laws strictly prohibit all forms of forced labour, he said, adding the country has actively participated in and implemented related international commitments, including International Labour Organisation (ILO) conventions and free trade agreements (FTAs).

Firmly combating and strictly handling violations of intellectual property rights is a priority for Việt Nam, linked with the innovation of development models and the implementation of Resolution 57-NQ/TW on breakthroughs in science and technology development, innovation, and digital transformation, he affirmed.

Ambassador Switzer expressed his gratitude to Prime Minister Hưng for taking the time to meet him, conveying the congratulations of President Donald Trump and US leaders to the Prime Minister on his new important position.

Acknowledging the positive outcomes in bilateral relations, including economic and trade cooperation in recent years, Ambassador Switzer emphasised that Việt Nam is one of the US’s most important partners, with economic and trade cooperation making a positive contribution to the overall development of bilateral relations.

Highlighting the importance of a reciprocal trade agreement for bilateral economic and trade cooperation, he praised the positive cooperation and goodwill of Vietnamese ministries, agencies, and the Government's negotiating team in recent times.

He affirmed that the Office of the US Trade Representative and he personally will continue to closely coordinate with Vietnamese ministries and agencies, making every effort to achieve the agreement soon, thereby contributing positively to the further development of bilateral relations in the future. 

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