Economy
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HÀ NỘI — Minister of Industry and Trade Nguyễn Hồng Diên held talks with US Congressman Adrian Smith in Washington D.C. on November 13, seeking to advance Việt Nam–US trade negotiations and expand imports of American agricultural products.
Smith, a Republican representing Nebraska, serves as Chair of the US House Subcommittee on Trade and is a key voice for the US agricultural sector. The meeting focused on the potential, prospects and recent progress in Việt Nam–US economic cooperation, including with the state of Nebraska.
Diên said that since Việt Nam and the US launched reciprocal trade negotiations earlier this year, Vietnam has committed to importing a range of American products.
Vietnamese businesses, he noted, are particularly interested in high-quality corn from US states – an essential input for seed production and ethanol processing used in biofuel, a key element of Việt Nam's sustainable energy strategy. Beef from Nebraska has also gained strong popularity among Vietnamese consumers.
He expressed his hope that Việt Nam and Nebraska could establish practical cooperation mechanisms in areas of shared interest, thereby helping deepen bilateral economic and trade ties.
Since the start of the year, Việt Nam's imports from the US have risen sharply: cotton by 126 per cent, seafood by 8 per cent, and corn and soybeans by 35 per cent. Việt Nam has also signed multiple aircraft purchase contracts with US manufacturers. Acknowledging the existing trade imbalance between the two countries, Diên said that removing Việt Nam from the US’s D1/D3 list – the group of countries restricted in accessing certain high-tech products – would provide an important basis for achieving more balanced trade.
Diên called on Smith, given his strong political influence and deep understanding of trade and agriculture, to support Việt Nam during the negotiation process. He encouraged the Congressman to act as a bridge fostering cooperation between Việt Nam and the US, especially in areas of Nebraska’s strengths such as agriculture, aviation and biotechnology.
Smith welcomed Diên's visit and message, expressing confidence that recent positive developments create favourable conditions to boost bilateral trade cooperation. He praised Việt Nam's efforts to promote trade balance, particularly its increased corn purchases for biofuel production. Having previously visited Vietnamese agricultural and seafood facilities, he affirmed the strong potential for expanding imports of US raw materials.
He expressed his hope that both sides would soon conclude reciprocal trade negotiations and that the agreement would generate meaningful benefits for bilateral economic and trade cooperation. — VNA/VNS