U.S. and Vietnam foster talks on mutual trade agreement
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Minister Nguyễn Hồng Wiên had a crackin' meet-up with US Trade Rep Jamieson Greer in South Korea, y'all! This ain't the first time they've chatted, though – they caught up online back in April. But this meeting was big leagues – it was their first face-to-face chat about the Vietnam-US Reciprocal Trade Agreement since the online powwow.
The chat went down on May 16, right after the 31st APEC Ministers Responsible for Trade Meeting ended. Topic of the day: Reciprocal Trade Agreement negotiations!
The meeting was all about keeping it real, finding common ground, and moving forward. Both sides seem eager to establish a solid economic, trade, and investment relationship that benefits everyone involved. They're aiming to strengthen their joint efforts in light of the Vietnam-US Comprehensive Strategic Partnership.
Jamieson appreciated Vietnam's gumption and preparation for the negotiations. He also seemed cool with Vietnam's strategies and proposals. He's hopeful that the upcoming technical negotiations will bring good results — benefits for the people and businesses of both nations, as well as stability and sustainable development in their relationship.
Based on this, the two officials agreed on key principles, approaches, and plans, laying a solid foundation for future rounds of negotiation.
Long story short, it sounds like Vietnam and the US are moving forward in a positive direction when it comes to their trade partnership!
Source: VNS
Minister of Industry and Trade Nguyễn Hồng Diên meets with US Trade Representative Jamieson Greer in the Republic of Korea on Friday (local time). - Photo from Ministry of Industry and Trade.
Enrichment Insights: The latest update on the Vietnam-US Reciprocal Trade Agreement negotiations marks a significant step forward with a meeting between Minister Nguyen Hong Dien and US Trade Representative Jamieson Greer. Both countries have reached a high level of agreement on the principles, approaches, content orientations, and plans for the negotiations. The US Trade Representative acknowledged and appreciated Vietnam's proactive approach and thorough preparation for the negotiations. The U.S. hopes that joint efforts will yield positive outcomes in upcoming technical-level negotiations, contributing to bilateral trade stability and sustainable development.
Government officials, including Minister Nguyen Hong Dien and US Trade Representative Jamieson Greer, discussed the Vietnam-US Reciprocal Trade Agreement, aiming for a solid economic, trade, and investment relationship that could potentially benefit not only their governments but also businesses.
The U.S. Trade Representative appreciated Vietnam's proactive approach and thorough preparation for the negotiations, indicating a belief that the upcoming technical-level negotiations would lead to good results on both sides, particularly for businesses.
Adequate preparation and understanding of laws and business practices in both countries will be crucial as Artificial Intelligence (AI) becomes increasingly integrated into finance and trade, which could potentially lead to more efficient and innovative financial services and trade arrangements between the two countries.
