At the meeting with Chief Executive Officer of Warburg Pincus Investment Fund and Chairman of the U.S.-ASEAN Business Council (USABC) Jeffrey Pearlman, Dien highly appreciated the results of economic and trade cooperation between Vietnam and the U.S. in recent times, and affirmed that the U.S. is one of the leading important economic partners of Vietnam.
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Minister of Industry and Trade Nguyen Hong Dien at the meeting with leaders of the American Apparel and Footwear Association (AAFA) and leading U.S. textile, garment and footwear enterprises |
He emphasized that the Vietnam - U.S. economic relations are complementary, helping to create competitive advantages, promoting sustainable development, in line with the orientation of building an independent, self-reliant economy and deep international integration of Vietnam.
The minister called on the USABC and the U.S. business community continue to support Vietnam in the process of negotiating a reciprocal trade agreement with the U.S. and coordinate to promote the investment and business potential and opportunities in Vietnam to U.S. partners.
For his part, Pearlman expressed his confidence in Vietnam's economic development prospects and affirmed that Vietnam is currently Warburg Pincus' second largest market in Asia.
He said that Warburg Pincus is committed to long-term investment in Vietnam and will have a positive voice to support Vietnam in promoting bilateral economic and trade relations.
Pearlman also said that he will soon work with U.S. Secretary of Commerce Howard Lutnick, U.S. Secretary of the Treasury Scott Bessent and U.S. Trade Representative (USTR) Jamieson Greer to propose three contents. Specifically, the USABC supports a balanced and harmonious trade agreement between Vietnam and the U.S.; the U.S. needs to strengthen cooperation with ASEAN - a region that plays a strategic role in the U.S. policy; and the current trade deficit is a natural result of the relationship between a developed economy like the U.S. and an economy in the early stages of development like Vietnam, which needs to be assessed objectively and comprehensively.
The two sides also discussed potential areas of cooperation such as energy, industry, digital transformation, green transition, logistics and supply chain development. The USABC is committed to continuing to accompany Vietnam in its efforts to maintain macroeconomic stability and sustainable development.
On the afternoon of the same day, Dien had a working session with leaders of the American Apparel and Footwear Association (AAFA) and leading U.S. textile, garment and footwear enterprises such as Gap, Levis Strauss, Harnes Brands, Under Amour, among others.
Dien highly appreciated the role of the AAFA in promoting Vietnam-U.S. trade relations, and thanked the association for always being an effective bridge between U.S. enterprises and manufacturers in Vietnam.
He affirmed that Vietnam is ready to be a reliable partner in the global supply chain and wants to strengthen coordination to build a fair, highly adaptive and sustainable trade environment.
At the meetings, Dien asked large U.S. associations and corporations, with strong influence, to help give opinions to the Trump Administration to convey Vietnam's message that the comprehensive strategic partnership between Vietnam and the U.S. has been strongly promoted, creating favorable conditions for U.S. companies to invest and do business in Vietnam. Therefore, cooperation with Vietnam will bring long-term strategic benefits and contribute to improving the trade balance towards fairness, harmony and sustainability between the two countries. Vietnam needs to be treated as a priority trade partner of the U.S.
Vietnam proposed the U.S. work with the Southeast Asian country to resolve current trade and economic issues, promptly recognize Vietnam as a market economy and remove Vietnam from the strategic export control list (D1-D3), thus helping to bring practical benefits to the two countries in both the short and long terms.
Source: VNA