The Vietnam – US trade relations are enjoying strong growth. - Illustrative image (Photo: VNA) Washington DC (VNA) – The Vietnam – US traderelations are enjoying strong growth after the US concluded its investigationrelated to Section 301into Vietnam’s alleged import and use of timber illegally harvested or traded,and removed Vietnam from its currency manipulation list, said Trade Counsellor of Vietnam in the US Do Ngoc Hung.
According to Hung, thisdemonstrates appropriate guidance from relevant Vietnamese agencies such asthe Ministry of Industry and Trade, the State Bank of Vietnam, the Ministry ofForeign Affairs, and the Ministry of Finance, and coordination of theVietnamese Embassy in the US, which all help foster a sustainable economic andtrade relationship between the two countries.
It is anticipated that there will be some favourable developments beyondthe first half of this year as the US economy has shown signs of recoverywith regard to growth and consumer demand, the counsellor said.
The US government and businesses continue to show interest and a strongcommitment to business cooperation with Vietnam, he said, adding that thepositive economic recovery has led to major US retail chains resuming orderingactivities with the Southeast Asian nation.
According toHung, this is a great potential for Vietnam to push exports to the country.
In the coming time, along with Vietnamese representative agencies in the US,the Vietnam Trade Office will continue to promote trade policy research topromptly provide information and support businesses, and focus on promotingbusiness opportunities toward expanding markets by region, especiallyCalifornia, New York, New Jersey, Washington, and Texas which are home to crowdsof Asian Americans.
The office has planned to organise field tripsfor trade promotion delegations to the US to explore the market. It willcollaborate with management agencies at home to hold exhibitions, and enhance the applicationof e-commerce to address issues related to geographical distance.
Statistics show that the Vietnam - US trade topped 46.5 billion USD in the first five months of 2023.
Accordingto Hung, Vietnam's trade surplus with the US currently ranks third,behind China and Mexico./.
