Vietnamese Foreign Minister Urges U.S. to Recognize Vietnam as a Market Economy for Enhanced Economic Cooperation

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

Vietnamese Foreign Minister Bui Thanh Son expressed hope that the United States will soon recognize Vietnam as a market economy during remarks in Washington. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, which can result in higher anti-dumping duties.

Speaking at the Brookings Institution think tank, Son emphasized the importance of enhancing economic trade and investment cooperation between the two countries following the agreement of a Comprehensive Strategic Partnership last year. By focusing on key areas such as supply chain resilience, infrastructure connectivity, digital economy, energy, green economy, and logistics, both the United States and Vietnam can strengthen their economic ties and create opportunities for growth and development in the region.

The remarks by the Vietnamese Foreign Minister 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.

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