Recognizing Vietnam as a Market Economy: Building a Stronger Economic Relationship with the US

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 in Washington, Vietnamese Foreign Minister Bui Thanh Son emphasized the importance of recognizing 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. However, Son believes that economic cooperation and investment between the two countries should be enhanced following the establishment of a Comprehensive Strategic Partnership last year.

Son highlighted key areas for collaboration, including supply chain resilience, infrastructure connectivity, digital economy, energy, green economy and logistics. By focusing on these areas, both countries can work towards strengthening their economic ties and promoting mutual growth and development.

During his speech at the Brookings Institution think tank in Washington D.C., Son addressed the need for increased cooperation and collaboration between Vietnam and the United States. With a focus on developing key economic sectors such as infrastructure and technology, 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 supply chain resilience and digital innovation, both nations can create a more prosperous future together.

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