Upgrading Vietnam-US relations

Prime Minister Pham Minh Chinh will lead the Vietnamese delegation to visit and work in the US and the United Nations from May 11-17, 2022.

>> Time to push for upgrading Vietnam-US relations to strategic partnership: Experts

Vietnam and the United States are reliable partners with a partnership based on mutual respect, twenty-five years after bilateral relations were established in 1995. Vietnam- US relations have grown increasingly cooperative and comprehensive, resulting in a thriving relationship spanning political, economic, security, and people-to-people ties.

The US backs a strong, prosperous, and independent Vietnam that contributes to international security, engages in mutually beneficial trade, and upholds human rights and the rule of law. The 2013 U.S.-Vietnam Comprehensive Partnership, an overall framework for improving bilateral relations, and Joint Statements published by two leaders in 2015, 2016, and May and November 2017 guide both sides' cooperation. Vietnam and the United States marked the 25th anniversary of diplomatic relations in 2020, renewing their commitment to closer collaboration.

The Comprehensive Partnership reaffirms the United States' long-term commitment to the Indo-Pacific region and creates a framework for cooperation in areas such as political and diplomatic relations, trade and economic ties, defense and security, science and technology, education and training, environment and health, humanitarian assistance/disaster relief, war legacy issues, human rights protection and promotion, people-to-people ties, culture, sports, and tourism.

Since the bilateral trade agreement between the United States and Vietnam went into effect in 2001, bilateral trade has increased considerably, as has US investment in Vietnam. The United States and Vietnam have concluded a trade and investment framework agreement; they have also signed textile, air transport, customs, and maritime agreements. U.S. exports to Vietnam include machinery, computers and electronics, yarn/fabric, agricultural products, and vehicles. U.S. imports from Vietnam include apparel, footwear, furniture and bedding, agricultural products, seafood, and electrical machinery.

The Vietnam- US bilateral trade has grown from $451 million in 1995 to over $111 billion in 2021. U.S. goods exports to Vietnam were worth over $15.27 billion in 2021, up 11.4% compared to 2020, and U.S. goods imports in 2021 were worth $96.29 billion, up 24,9% compared to 2020. U.S. investment in Vietnam was $10.47 billion, ranking eleventh among 139 countries and territories with projects in Vietnam.

US Ambassador to Vietnam Marc Knapper, Vietnamese Ambassador to the US Nguyen Quoc Dung and officials and staff of the Vietnamese Embassy in the US welcomed the Prime Minister at Andrews military airport - Photo: VGP/Nhat Bac

Mr. Pham Quang Vinh, former Deputy Foreign Minister and Chairman of the Vietnam-American Association, said the Vietnam-US relationship needs to be raised to a new level, and the partnership has more room for development for the benefit of each country, the region, and the globe. In summary, a strategic partner for this connection must be identified as soon as possible.

"There are some things to be accomplished in the near future with regard to Vietnam-US relations. First, the two parties must establish a timeline for discussing and identifying issues that are consistent with their strategic and growing partnership. Second, improving the connection between Vietnam and the United States is in keeping with Vietnam's interests and policies. Third, throughout the past 25 years, the two sides' relationship has continued to expand on the basis of mutual benefit. Both parties want to take their relationship to the next level", Mr. Pham Quang Vinh said.

According to Mr. Pham Quang Vinh, the Vietnam-US friendship will undoubtedly be reinforced during the Prime Minister's visit to the United States. Both sides' leaders expressed their desire to deepen, strengthen, and upgrade their relationship.

"The two sides are anticipated to strengthen their ties on this occasion, both bilaterally and on regional and international problems. As a result, initiatives and cooperation strategies such as vaccine support, guaranteeing sustainable supply chains, technological transfer, green economy... would be established. Mr. Pham Quang Vinh said, adding that Vietnam and ASEAN will also look forward to practical cooperation projects with the region from the US side, including the Indo-Pacific Economic Framework initiative.