Bui Thanh Son’s Plea for Market Economy Recognition: Fostering Closer Economic Ties with Vietnam”.

Vietnam’s Foreign Minister Son expresses hope for US recognition of ‘market economy’ status

In Washington, Vietnamese Foreign Minister Bui Thanh Son reiterated his hope that the United States would soon recognize Vietnam as a market economy. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, which can lead to higher anti-dumping duties. The minister emphasized the importance of economic trade and investment cooperation between the two countries following their agreement of a Comprehensive Strategic Partnership last year.

During his speech at the Brookings Institution think tank, Son highlighted several key areas for collaboration including supply chain resilience, infrastructure connectivity, digital economy, energy, green economy, and logistics. By focusing on these areas, both the United States and Vietnam can strengthen their economic ties and create opportunities for growth and development in the region.

Son’s remarks underscored the importance of fostering closer economic relations between the two countries. By working together on key priorities such as supply chain resilience and infrastructure connectivity, the United States and Vietnam can expand their cooperation and unlock new opportunities for trade and investment. Recognizing Vietnam as a market economy would further facilitate economic collaboration and help both countries realize the full potential of their partnership.

In conclusion, by enhancing economic trade and investment cooperation between the two countries through key areas such as supply chain resilience and infrastructure connectivity, both nations can unlock new opportunities for growth and development in Asia Pacific region while fostering closer economic relations.

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