US - Vietnam strengthen trade relations
Vietnam-US trade will be pushed to a new height, affirmed Mr. Francisco Sánchez, US Under Secretary of Commerce in charge of international trade, during a working session with the press on the afternoon of March 7 in Hanoi.
US Deputy Secretary of Commerce visits Fafilm Ho Chi Minh City (Photo: News)
The message that the US Deputy Secretary of Commerce delivered was to further increase the participation of US companies in Vietnam's infrastructure development projects, create more opportunities for US exporters, address challenges in market access and bring the US-Vietnam bilateral trade relationship to a new level. Mr. Francisco Sanchez highly appreciated the achievements that Vietnam has made in economic and trade opening.
Mr. Francisco Sánchez said: “The benefits of trade are that it is a two-way street and I assess that the trade relationship between the US and Vietnam is going in the right direction. Vietnam is gaining a lot of benefits from opening its economy and I believe that Vietnam will benefit even more if it continues on the path of opening its economy.”
In 2011, bilateral trade between the US and Vietnam increased by more than 17%, with a value of nearly 22 billion USD. It is expected that in 2012, according to Mr. Sanchez, US-Vietnam trade will develop rapidly, especially US exports to Vietnam if there are no procedural barriers.
Mr. Francisco Sánchez also said: “Imposing import restrictions and cumbersome licensing procedures will have a significant impact and go against the opening of your economy. We will work closely bilaterally with Vietnam as well as through the TPP agreement to find ways to increase mutual benefits, help Vietnam continue on the positive path that Vietnam has taken over the past 17 years as well as implement methods of operating the economy and innovative technologies to promote the economy”.
This visit by the US Deputy Secretary of Commerce also aims to promote negotiations and move towards signing the Trans-Pacific Partnership (TPP) agreement between Vietnam and the US in 2012.
According to VTV
