Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên at the meeting with Chief Executive Officer of Warburg Pincus Investment Fund and Chairman of the US-ASEAN Business Council (USABC) Jeffrey Perlman in the US. — VNA/VNS Photo

WASHINGTON DC — Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên had working sessions with representatives of US businesses on June 9 (local time) as part of his working visit to the US.

At the meeting with Chief Executive Officer of Warburg Pincus Investment Fund and Chairman of the US-ASEAN Business Council (USABC) Jeffrey Perlman, Diên highly appreciated the results of economic and trade cooperation between Việt Nam and the US in recent times, and affirmed that the US is one of the leading important economic partners of Việt Nam.

He emphasised that the Việt Nam–US economic relations are complementary, helping to create competitive advantages, promoting sustainable development, in line with the orientation of building an independent, self-reliant economy and deep international integration of Việt Nam.

The minister called on the USABC and the US business community to continue supporting Việt Nam in the process of negotiating a reciprocal trade agreement with the US, and coordinate to promote the investment and business potential and opportunities in Việt Nam to US partners.

For his part, Perlman expressed his confidence in Việt Nam's economic development prospects and affirmed that Việt Nam is currently Warburg Pincus' second largest market in Asia.

He said that Warburg Pincus is committed to long-term investment in Việt Nam and will have a positive voice to support Vietnam in promoting bilateral economic and trade relations.

Perlman also said that he will soon work with US Secretary of Commerce Howard Lutnick, US Secretary of the Treasury Scott Bessent and US Trade Representative (USTR) Jamieson Greer to propose three contents. Specifically, the USABC supports a balanced and harmonious trade agreement between Việt Nam and the US; the US needs to strengthen cooperation with ASEAN – a region that plays a strategic role in the US policy; and the current trade deficit is a natural result of the relationship between a developed economy like the US and an economy in the early stages of development like Việt Nam, which needs to be assessed objectively and comprehensively.

The two sides also discussed potential areas of cooperation such as energy, industry, digital transformation, green transition, logistics and supply chain development. The USABC is committed to continuing to accompany Việt Nam in its efforts to maintain macroeconomic stability and sustainable development.

Vietnamese Minister of Industry and Trade Nguyễn Hồng Diên had a working session with leaders of the American Apparel and Footwear Association (AAFA) and leading US textile, garment and footwear enterprises such as Gap, Levis Strauss, Harnes Brands, Under Amour, among others, on June 9. — VNA/VNS Photo

On the afternoon of the same day, Diên had a working session with leaders of the American Apparel and Footwear Association (AAFA) and leading US textile, garment and footwear enterprises such as Gap, Levis Strauss, Harnes Brands, Under Amour, among others.

Diên highly appreciated the role of the AAFA in promoting Việt Nam–US trade relations, and thanked the association for always being an effective bridge between US enterprises and manufacturers in Việt Nam.

He affirmed that Việt Nam is ready to be a reliable partner in the global supply chain and wants to strengthen coordination to build a fair, highly adaptive and sustainable trade environment.

At the meetings, Diên asked large US associations and corporations, with strong influence, to help give opinions to the Trump Administration to convey Việt Nam's message that the comprehensive strategic partnership between Việt Nam and the US has been strongly promoted, creating favourable conditions for US companies to invest and do business in Việt Nam. Therefore, cooperation with Việt Nam will bring long-term strategic benefits and contribute to improving the trade balance towards fairness, harmony and sustainability between the two countries. Việt Nam needs to be treated as a priority trade partner of the US.

Việt Nam proposed the US work with the Southeast Asian country to resolve current trade and economic issues, promptly recognise Việt Nam as a market economy and remove Việt Nam from the strategic export control list (D1-D3), thus helping to bring practical benefits to the two countries in both the short and long terms. — VNA/VNS