Vietnam us trade relations

VietNamNet Bridge - Vietnam has enjoyed a trade surplus with the US over many years. However, the trade balance has now become relatively equal with a series of valuable procurement contracts that Vietnamese enterprises have signed with US manufacturers. Vietnam has enjoyed a trade surplus with the US over the last years Two-way trade turnover increased from $220 million in 1994 (when the US lifted the embargo against Vietnam) to $1.4 billion in 2001 (when the Vietnam-US Bilateral Trade Agreement took effect) and $50.8 billion in 2017. In 2017, according to the General Department of Customs (GDC), Vietnam exported $41.6 billion worth of products to the US, while it imported $9.2 billion worth of products from the US. As such, the US was the biggest market that Vietnam had a trade surplus with, valued at $32.4 billion. In the context of the US President Donald Trump changing policies with an aim to protect the US economy against globalization, the increased deficit in the … [Read more...] about Billion USD affairs balances Vietnam-US trade

At the meeting The Vietnamese Government official made the remark at a meeting with US Deputy Trade Representative Jeffrey Gerrish in Hanoi on May 21, during which he affirmed that the Vietnamese Government is making great efforts to improve business environment and fine-tune national competitiveness. Vietnam attaches importance to perfecting institutions and policies to create favorable conditions for domestic and foreign investors, including those from the US, to operate effectively in the country, Hue stressed. Sharing Hue’s opinion, Gerrish said the US would further develop its cooperation with Vietnam. The US wants to reach agreement with Vietnam in settling problems related to car import, electronic payment, and regulations in Vietnam’s draft law on cyber security that requires servers managing data of Vietnamese users be installed in Vietnam, he noted. In his reply, Deputy PM Hue said he would ask relevant ministries to propose ways to address the issues … [Read more...] about Trade cooperation a focus of Vietnam-US ties: Deputy PM

At the dialogue, Deputy Foreign Minister Ha Kim Ngoc affirmed that Vietnam highly values and hopes Vietnam-US ties to develop stably and effectively both in scope and scale on the basis of mutual respect for each side’s independence, sovereignty, territorial integrity and political system, contributing to maintaining peace, stability, cooperation and development in the Asia-Pacific region and the world as a whole. The Vietnamese diplomat suggested that the two sides focus on implementing well contents that high-level leaders of the two countries agreed in 2017 so as to continue developing Vietnam-US ties substantially and effectively, keep exchanging high-level visits and maintaining dialogue mechanisms, and promote development of economic, trade, and investment relations. He highly appreciated progress in security and defense cooperation and proposed that the two sides strengthen cooperation in humanitarian aid and mitigation of war consequences, focusing on the dioxin … [Read more...] about Vietnam, US hold ninth political, security, and defense dialogue