Vietnam Seeks Market Economy Status in Broadening US Economic, Energy Talks

HANOI – Vietnamese and US officials met this week to advance negotiations on a reciprocal trade agreement, with Vietnam pushing for prompt recognition of its market economy status and the removal of restrictions on high-technology exports.

Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân held a working session on Wednesday with US Deputy Secretary of State Christopher Landau to discuss deepening economic, trade, and investment cooperation between the two nations.

Mr. Landau spoke highly of Vietnam’s economic development achievements and acknowledged the positive momentum in bilateral economic and trade ties in recent years. The US side expressed its desire to further expand cooperation with Vietnam in trade, investment, and energy, with a focus on developing liquefied natural gas (LNG) infrastructure, enhancing energy collaboration, and pursuing initiatives on environmental protection and plastic waste reduction.

Mr. Tân thanked the US delegation for its positive assessments, affirming that economic relations have achieved substantial results, bringing benefits to businesses and people of both countries. He stressed that the Vietnamese and US economies are highly complementary and hold significant potential for further growth. Vietnam, he said, attaches importance to promoting economic and trade relations in a balanced, sustainable, and mutually beneficial manner, and is ready to expand imports of products in which the US has strengths, such as agricultural products, energy, and high-tech equipment.

On investment, Mr. Tân appreciated the contributions made by the US business community to Vietnam’s manufacturing, exports, and technological innovation. He reaffirmed Vietnam’s commitment to further improving the investment and business environment to create favourable conditions for foreign enterprises, including US firms, to operate stably and expand their long-term presence.

Regarding environmental issues and climate change, the Deputy Minister affirmed that Vietnam is actively implementing its international commitments on green transition, emissions reduction, and sustainable development.

The two sides noted positive progress in negotiations on a fair and balanced reciprocal trade agreement and agreed to maintain close coordination to finalise the remaining issues under discussion at an early date. On this occasion, the Vietnamese side proposed the US consider promptly recognising Vietnam’s market economy status and removing the country from the D1 and D3 lists, which would ease export restrictions on certain high-tech products.

At the conclusion of the working session, both sides agreed to step up exchanges and coordination to promote cooperation in trade, investment, energy, and economic development, thereby contributing to further deepening the Việt Nam-US Comprehensive Strategic Partnership.