June 21, 2024

Vietnamese Foreign Minister Calls for U.S. Recognition as Market Economy to Boost Economic Partnership

1 min read
FM Son from Vietnam expresses hope for US to recognize ‘market economy’ status soon | WTAQ News Talk | 97.5 FM · 1360 AM

During a speech at the Brookings Institution think tank in Washington, Vietnamese Foreign Minister Bui Thanh Son expressed his hope for the United States to recognize Vietnam as a market economy. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, resulting in higher anti-dumping duties.

Son emphasized the importance of enhancing economic trade and investment cooperation between the two countries following the establishment of a Comprehensive Strategic Partnership in the previous year. By focusing on key areas such as supply chain resilience, infrastructure connectivity, the digital economy, energy, green economy, and logistics, both countries can work towards strengthening their economic ties and promoting mutual growth and development.

In his speech, Son highlighted key areas for collaboration and emphasized the need for increased cooperation and collaboration between the two nations. By developing key economic sectors, both countries can benefit from closer ties and partnerships in the future.

In conclusion, Son’s remarks underscored the importance of recognizing Vietnam as a market economy and working towards building a more robust economic relationship with the United States. By focusing on key areas such as infrastructure and technology, both countries can work together to create a more resilient and prosperous economic partnership.

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