Strengthening Economic Ties: Vietnamese Foreign Minister’s Call for Market Economy Recognition in US

Vietnamese Foreign Minister Bui Thanh Son expressed his hope for the United States to recognize Vietnam as a market economy during a speech in Washington. 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.

Son highlighted key areas for collaboration, including focusing on supply chain resilience, infrastructure connectivity, the digital economy, energy, green economy, and logistics. By emphasizing these areas, both the United States and Vietnam can work towards strengthening their economic ties and promoting mutual growth and development.

The speech was given at the Brookings Institution think tank in Washington, where Son addressed the need for increased cooperation and collaboration between the two nations. With a focus on 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.