According to Mr. Do Ngoc Hung - Vietnam Trade Advisor to the United States, the economic, trade and investment relationship between Vietnam and the United States has recently grown strongly, harmoniously and sustainably.
"The Vietnamese Government has strongly directed ministries, branches, localities and industry associations to implement many specific plans to promote import-export growth, towards balancing trade, ensuring harmony of interests with major economic partners, including the United States. In recent years, the structure of import-export goods between the two countries has been supplementary, not directly competitive, thanks to which two-way trade turnover has increased rapidly and stably" - Mr. Hung emphasized.
According to Mr. Hung, Vietnamese goods exported to the United States are supplementary, mainly serving the consumer goods segment, which does not compete directly with domestic goods from the United States, but instead brings benefits to American consumers at reasonable prices and suitable quality.
Meanwhile, US goods exported to Vietnam, especially in the fields of high technology, mechanical engineering, energy and input materials, still have great potential for growth.
"Removing restrictions on high-tech exports from the US to Vietnam will help the trade balance between the two countries improve more positively in the coming time" - Mr. Hung emphasized.
Referring to the Joint Statement on the framework of the Comprehensive, Fair and Balanced Trade Agreement, Advisor Do Ngoc Hung said that this is an important step forward, marking a new phase of cooperation between the two countries, from regular trade exchange to cooperation based on the principles of fairness, balance and mutual benefit.
The agreement is of great significance in elevating the level of Vietnam - US trade economic relations, marking an important step from regular trade exchanges to framework exchanges, increasing reliability, and long-term forecasts for businesses to better see business opportunities in the future.
In particular, the Agreement opens up investment and export opportunities for Vietnam. According to Mr. Hung, maintaining the counterpart tax rate of 20% and the possibility of expanding the scope of tax reduction for some groups of goods to 0% with the product portfolio in Appendix III in the US procedure decree will open up new export growth opportunities for Vietnamese enterprises.
At the same time, Vietnam is also committed to creating more favorable conditions for the export of US goods, helping domestic consumers access high-quality products, diverse in types.
Along with that, the Agreement puts Vietnam in the global supply chain, a partner with a stable, sustainable and long-term orientation, sharing common interests and values with the United States in the region.
This contributes to enhancing Vietnam's reputation in the global supply chain, especially in the fields of digital technology, electronics and components, while opening up opportunities to attract more high-quality investment from the US.
To maintain sustainable growth momentum, Mr. Hung said that the Vietnamese side will continue to promote the negotiation process to soon complete the Bilateral Trade Agreement according to the roadmap agreed upon by both sides.
At the same time, Vietnam will continue to make efforts to improve the investment environment, reduce costs for businesses, develop infrastructure, promote supporting industries and train high-quality human resources to meet the requirements of cooperation in the fields of digital transformation, green transformation, clean energy and logistics.
On the side of Vietnamese Commerce in the United States, Mr. Hung said that the unit will continue to promote its role as a bridge, providing information, consulting and supporting Vietnamese enterprises to access distribution systems, e-commerce platforms and major retail channels in the United States such as Amazon, Walmart...; at the same time, coordinate with domestic industry associations to strengthen warnings and effectively respond to cases of trade defense, anti- devaluation and anti-subsidy.
Vietnam also continues to implement Decision No. 141/QD-TTg of the Prime Minister on promoting businesses to directly participate in the foreign distribution network until 2030, in order to expand market share in the United States and other key markets. Many trade promotion activities, fairs and business connection events between the two countries will be held in the coming time.
