Minister of Industry and Trade Nguyễn Hồng Diên (standing) chairs a working session with major Vietnamese enterprises on May 7. — VNA/VNS Photo

HÀ NỘI — Minister of Industry and Trade Nguyễn Hồng Diên on May 7 chaired a working session with major Vietnamese enterprises to implement the Prime Minister's directive on promoting trade agreements to help balance the trade relationship between the US and Việt Nam.

Participants included leading corporations such as the Vietnam National Industry - Energy Group (Petrovietnam), Vietnam National Petroleum Group (Petrolimex), Vietnam Electricity (EVN), Vietnam Airlines and Vietjet Air, among others.

In recent years, these enterprises have recorded substantial imports from the US, including aircraft, machinery, equipment, turbines for gas-fired power plants, power transmission systems, GPU chips, raw materials, and fuels, amounting to several billions of US dollars.

During the meeting, the corporations reported on the progress of procurement agreements signed in 2025. They also made assessments and forecasts on demand for this year and beyond for imports of the equipment, goods, services, and materials in which the US has strengths.

They said they plan to intensify engagements and meetings with US partners from now until June to advance the signing of contracts to implement previously signed agreements and memoranda of understanding.

Minister Diên, who leads the Government’s negotiation delegation on a reciprocal trade agreement with the US, said that Việt Nam currently has strong and steady demand for US goods, equipment and services — sectors where the US excels and Việt Nam has pressing needs.

However, he noted that bilateral trade has yet to reflect its full potential. The minister stressed the need for both sides to urgently review and resolve outstanding issues to facilitate the trade of essential goods and services.

He further called on enterprises to take a more proactive approach in unlocking this vast potential, stressing that such efforts will play a crucial role in deepening economic, trade, and investment cooperation between the two nations in a substantive and effective manner.

These actions will also contribute to building a more balanced, harmonious and sustainable trade relationship, Diên said. — VNS