Vietnam Calls for US Recognition as Market Economy to Strengthen Economic Partnership

FM Son from Vietnam expresses hope for US to recognize ‘market economy’ status soon | WTAQ News Talk | 97.5 FM · 1360 AM

In a speech at the Brookings Institution think tank in Washington, Vietnamese Foreign Minister Bui Thanh Son urged for the United States to recognize Vietnam as a market economy. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, resulting in higher anti-dumping duties.

Son emphasized the importance of economic trade and investment cooperation between the two countries following the establishment of a Comprehensive Strategic Partnership in the previous year. To strengthen their economic ties and promote mutual growth and development, Son highlighted key areas for collaboration, including focusing on supply chain resilience, infrastructure connectivity, the digital economy, energy, green economy, and logistics.

By emphasizing these areas, both countries can work towards creating a more resilient and prosperous economic partnership. The speech was given at the Brookings Institution think tank in Washington where Son addressed the need for increased cooperation and collaboration between the two nations. With a focus on developing key economic sectors, both countries can benefit from closer ties and partnerships in the future.

In conclusion, Son’s remarks underscored the importance of recognizing Vietnam as a market economy and working towards building a more robust economic relationship with the United States. By focusing on key areas such as infrastructure and technology, both countries can work together to create a more sustainable future for their economies.

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