On the sidelines of the sixth round of talks on a reciprocal, fair, and balanced trade agreement between Vietnam and the US, Acting Minister of Industry and Trade Le Manh Hung, who leads Vietnam’s negotiating team, has met with US Under Secretary of State for economic growth, energy, and the environment Jacob Helberg, the Ministry of Industry and Trade said on February 5.

At the February 2 session, the two sides held in-depth discussions on major orientations to promote bilateral economic cooperation as Vietnam and the US accelerate the implementation of their Comprehensive Strategic Partnership and enter a pivotal phase of negotiations on the reciprocal trade agreement.

Representatives from Binh Son Refinery and Petrochemical Company and ADM Asia-Pacific Trading Pte. Ltd. at the signing ceremony of the Memorandum of Understanding. (Photo: VNA)

Both sides agreed that expanding new cooperation pillars with greater depth and higher added value would help strengthen the long-term foundation of Vietnam–US economic relations.

Helberg underscored the US interest in stepping up cooperation with Vietnam in key areas such as artificial intelligence (AI), digital technology, energy, supply chains, and new models of economic cooperation.

The US side also expressed interest in high-technology investment projects in Vietnam and called for the country’s support in facilitating US investments in this field.

For his part, Hung affirmed that Vietnam welcomes and values innovative cooperation proposals from the US, including initiatives to support US enterprises investing in high-tech industries.

He stressed that Vietnam considers supply chain cooperation with the US a strategic pillar in its efforts to upgrade its position in global value chains. Vietnam also wishes to promote cooperation in high technology, manufacturing, energy, aerospace, and the green economy.

Vietnam is ready to increase imports of high-tech products from the US, contributing to a balanced, sustainable and mutually beneficial trade relationship, the Acting Minister said.

Regarding the bilateral trade negotiation process, Hung reaffirmed that Vietnam remains committed to a dialogue and cooperation-based approach and has demonstrated a high level of market openness for US exports.

On that basis, he called on the US to continue close coordination and help create negotiating space in line with the Comprehensive Strategic Partnership, with a view to concluding the reciprocal trade agreement talks at an early date, creating a stable framework for businesses and investors in both countries.

The two sides agreed to maintain regular exchanges and strengthen coordination at both policy and technical levels, advancing new directions of cooperation that are strategic, substantive and effective, and contributing to the long-term development of Vietnam–US economic relations./.