FM Son: Vietnam optimistic about US recognizing its ‘market economy’ status

During his visit to Washington, Vietnamese Foreign Minister Bui Thanh Son expressed hope that the United States would soon recognize Vietnam as a market economy. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, leading to higher anti-dumping duties. Son emphasized the importance of boosting economic trade and investment cooperation between the two countries, following the agreement of a Comprehensive Strategic Partnership last year.

Son highlighted several key areas for cooperation, including supply chain resilience, infrastructure connectivity, digital economy, energy, green economy, and logistics. By focusing on these areas, the United States and Vietnam can strengthen their economic ties and foster mutual growth and development.

In particular, Son emphasized the importance of supply chain resilience in the current global economic climate. He urged both countries to work together to build more resilient and diversified supply chains that can withstand disruptions caused by pandemics or other unforeseen events.

Furthermore, Son emphasized the importance of infrastructure connectivity in promoting economic growth and development. He urged both countries to invest in new infrastructure projects such as roads, bridges, ports, and airports that can facilitate trade and investment flows across borders.

In terms of digital economy, Son highlighted the need for closer collaboration between Vietnam and the United States in developing new technologies such as artificial intelligence (AI), big data analytics (BDA), Internet of Things (IoT), 5G networks etc. This will help both countries to stay ahead in technology race and become more competitive globally.

Regarding energy sector Son pointed out that Vietnam has vast potentials in renewable energy sources like solar power while USA has expertise in this field hence there is an opportunity for cooperation on clean energy front.

On Green Economy front son stressed that Vietnam should focus on sustainable development which will help them mitigate climate change while also creating job opportunities for future generations.

Finally son also discussed logistics sector where there is an opportunity for cooperation between both countries by sharing knowledge exchange programs which will help them improve their transportation infrastructure.

Overall Son’s visit to Washington aimed to further enhance the relationship between the two countries and explore new opportunities for collaboration in various sectors. The recognition of Vietnam as a market economy by the United States would be a significant step towards deeper economic cooperation and mutual benefit.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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