Phoc affirmed Vietnam’s commitment to deepening its Comprehensive Strategic Partnership with the U.S. and its wish to foster a balanced, harmonious, and sustainable bilateral economic and trade relationship.
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Deputy Prime Minister Ho Duc Phoc (second from left) shakes hands with U.S. Treasury Secretary Scott Bessent in Washington DC on April 10 (local time) |
The deputy PM lauded the sides’ agreement to kick off negotiations on a reciprocal trade deal. He confirmed Vietnam’s readiness to engage in talks and urged both parties to accelerate discussions to reach an agreement at the earliest opportunity, contributing to stable and sustainable bilateral economic and trade ties that benefit their businesses and people.
Bessent, in response, acknowledged Vietnam’s proactive measures in addressing U.S. concerns and praised the agreement to initiate bilateral trade negotiations. He expressed confidence that both nations will soon reach suitable solutions to strengthen their mutually beneficial and stable relationship in this realm.
In a separate meeting on the same day with U.S. Secretary of Commerce Howard Lutnick, Phoc reiterated Vietnam’s steadfast policy of maintaining socio-politico-economic stability while building an independent and self-reliant economy linked to proactive, substantive, and effective international integration. The deputy PM called for close cooperation between the U.S. Department of Commerce and Vietnam’s relevant ministries and agencies throughout the upcoming negotiation process.
Lutnick, for his part, stated the U.S. attaches importance to its relationship with Vietnam and considers the Southeast Asian country a potential economy and a key partner in the region.
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Deputy Prime Minister Ho Duc Phoc met US Commerce Secretary Howard Lutnick on April 10 |
The commerce secretary affirmed that his department will work closely with Vietnamese authorities to address outstanding economic and trade issues, aiming for a suitable agreement that supports the development of both nations.
A significant result of Phoc’s visit, the upcoming trade talks come as part of an intensive diplomatic effort by Vietnam, following a pivotal telephone conversation between Vietnamese Party chief To Lam and U.S. President Donald Trump on April 4 – just two days after the U.S. announced reciprocal tariffs on Vietnamese exports. The Vietnamese Government has since been actively working to translate the outcomes of this high-level dialogue into concrete action.
The Vietnamese negotiation team is set to be officially established on April 11 to engage immediately with the U.S. delegation, led by Treasury Secretary Bessent. The aim is to swiftly reach a stable, sustainable, and mutually advantageous bilateral trade agreement.
Source: VNA