Two-way trade is now on track to hit the 200 billion USD milestone in the near future, reflecting the growing depth and dynamism of the partnership.
Trade experts note that since the signing of the Bilateral Trade Agreement (BTA) in 2000, Vietnam’s export structure to the U.S. has significantly evolved. Initially dominated by light industrial goods such as garments and footwear, Vietnam’s export portfolio now includes a broader range of goods of the processing – manufacturing industry, as well as agro-forestry-fishery products with increasing value added.
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The Ha Tay Chemical Weave Co., Ltd. exports 1.3 million pairs of footwear to the U.S. and the E.U. in 2024. |
On the import side, Vietnam sources primarily high-tech and high-value-added industrial goods from the U.S., including computers, electronic components, and machinery. This complementary trade pattern reflects the mutually supportive nature of the two economies. While Vietnam meets U.S. demand for agricultural and labor - intensive products, the U.S. supplies Vietnam with essential raw materials for production such as cotton, soybeans, animal feed, chemicals, and equipment, fueling the country’s export-driven growth.
Experts also highlight that importing key production inputs from the U.S. enhances supply chain transparency and traceability for Vietnamese industries.
During a recent working trip to the U.S., Minister of Industry and Trade Nguyen Hong Dien, acting as the Prime Minister’s Special Envoy, held meetings with the Office of the United States Trade Representative (USTR), the Department of Energy (DOE), and other agencies. He also witnessed the signing of cooperation agreements and procurement contracts between Vietnamese and American businesses, covering machinery, raw materials, services, and more.
Minister Dien emphasized that over the past 30 years, particularly the last decade of the Comprehensive Partnership and nearly two years of the Comprehensive Strategic Partnership, the two countries have made solid progress across various fields. Economic, trade, and investment collaboration remains the key driver of the bilateral relationship.
On investment, the U.S. remains a key market for Vietnamese firms aiming to expand trade links with. At the same time, Vietnam continues to attract high-tech investments from the U.S., especially in the semiconductor and microchip sector. Vietnam is also playing a growing role in the U.S.’s global supply chains, while American businesses have contributed significantly to Vietnam’s economic transformation and development.
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Fresh lychees from Bac Giang province (now part of Bac Ninh province) on shelves at a Costco store in the U.S. (Photo courtesy of Consul General in San Francisco Hoang Anh Tuan) |
Expanding trade cooperation
In June 2025, a batch of fresh lychees from Bac Giang province (now part of Bac Ninh province) was successfully air-shipped to Houston by importers L&V Food Supply and CT Choice - a milestone in efforts to bring premium Vietnamese products to American consumers.
The Vietnam Trade Office's branch in Houston has been actively supporting Vietnamese exporters through consulting, partner matching, and trade promotion. It has also facilitated business delegations, helping U.S. companies explore trade opportunities in Vietnam.
Also in June, the Vietnamese Consulate General and the Trade Office in Houston held meetings with major U.S. companies, trade associations, and chambers of commerce in the southern U.S., while continuing to assist Truong Hai Group Corporation (THACO) in introducing its products and hosting American firms at its Chu Lai Industrial Park in central Vietnam.
Besides, U.S. companies like Apple, Nike and hundreds of others continue to choose Vietnam as an investment destination due to its market potential and opportunities. Experts believe that if Vietnam maintains a transparent, fair, predictable, and innovation-friendly environment, it will attract even greater American investment.
U.S. Ambassador to Vietnam Marc E. Knapper emphasized that 2025, marking the 30th anniversary of bilateral diplomatic ties, is a pivotal year for elevating bilateral cooperation to a new height, with economic and trade collaboration remaining the key driver.
Minister Dien affirmed that the complementarity between the two economies is essential for building strong, harmonious, and sustainable economic – trade links. He reiterated Vietnam’s view of the U.S. as a partner of leading importance and expressed hope for further expanding trade and investment connections in a comprehensive and sustainable manner, helping reinforce mutual understanding and strategic trust.
Source: VNA