PM calls for US to reduce trade defense measures against Vietnam

Chinh made the request in a meeting with Yellen in New York Wednesday after affirming that the U.S. was among the most important trade partners of Vietnam and the country was willing to expand the bilateral partnership.

Chinh said he appreciated Yellen's personal contribution to economic and financial cooperation between the two countries.

He proposed that the U.S. Department of the Treasury continue to devote resources to promote economic and financial relations between Vietnam and the U.S. and to recognize Vietnam's market economy.

The two countries need to strengthen dialogue and cooperation in areas of common interest such as infrastructure, financial services, human resource training, information technology application, capital market and the stock market.

Yellen affirmed that the U.S. would cooperate with Vietnam to enhance the resilience of the regional supply chain and that Vietnam has potential in the semiconductor supply chain.

She thanked Vietnamese government agencies for actively working with the U.S. Department of the Treasury on trade, monetary and foreign exchange policies.

Both leaders reviewed priorities for cooperation in international economics and finance, including minimizing global risks, preventing financial crises, and promoting socioeconomic recovery after the Covid-19 pandemic and green economic development.

Also Wednesday, Chinh met with Gerd Muller, Director General of the United Nations Industrial Development Organization (UNIDO).

Muller said that Vietnam was the most successful development model and an important partner of UNIDO in many cooperation programs.

Vietnam Prime Minister Pham Minh Chinh speaks with Director General of the United Nations Industrial Development Organization Gerd Muller in New York on Sep. 20, 2023. Photo by Nhat Bac

UNIDO will support Vietnam to develop a food innovation system and grow the country’s agriculture and industrial sectors, he said.

Muller said that UNIDO would coordinate closely to soon approve the National Cooperation Program for 2023-2027 as a basis for cooperative activities between the two sides.

He proposed both sides study the possibility of trilateral cooperation between Vietnam, UNIDO and a developing country, so that Vietnam could share successful experiences, while UNIDO supported technology transfer.

PM Chinh said he appreciated the efforts of UNIDO and Muller personally for supporting Vietnam in implementing three strategic breakthroughs in infrastructure, human resources and institutions, and in building a socialist-oriented market economy.

He said Vietnam was determined to build a strong industry, sustainable ecological agriculture, and effective service industries.

Chinh requested UNIDO support Vietnam in implementing the Industrial Development Strategy until 2025 and beyond.

In particular, priority areas were named as industrial policies, developing low-emission and capable industries, improving climate change resilience, and increasing the added value and competitiveness of Vietnamese industries.

Chinh is in a six-day working trip to the U.S. New York is his final destination after San Francisco and Washington.