Building a Stronger Economic Partnership: Vietnamese Foreign Minister Urges U.S. Recognition of Market Economy

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

During a speech at the Brookings Institution think tank in Washington, Vietnamese Foreign Minister Bui Thanh Son expressed his hope 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 enhancing economic trade and investment cooperation between the two countries following the establishment of a Comprehensive Strategic Partnership in the previous year. By doing so, both countries can benefit from closer ties and partnerships in the future.

The Foreign Minister 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 nations can work towards strengthening their economic ties and promoting mutual growth and development.

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 resilient and prosperous economic partnership.

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