Vietnam, US boost economic and trade relations


VNA - US Under Secretary of State Robert Hormats has participated in a roundtable discussion with outstanding Vietnamese entrepreneurs, seeking ways to boost economic and trade relations between the two countries. 
The roundtable was co-organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam-US Business Forum in Hanoi on July 11. 
At the event, VCCI President Vu Tien Loc said that the Vietnamese Government considers the Trans-Pacific Partnership (TPP) Agreement as an important momentum for fostering the trade and investment ties between the two countries. 
Loc also raised concern about the US’s limitation on imports of Vietnam’s garment, footwear and seafood products, saying that it is not fair for Vietnamese businesses and will affect the jobs of many Vietnamese people. 
Hormats, who is in charge of economic growth, energy and the environment, affirmed that Vietnam is an important partner of the US in negotiations for TPP. 
The results of the negotiations will open up opportunities for both countries in strengthening trade development, expanding markets and improving the investment environment, he said. 
However, he noted that to reach goals in the negotiation process, Vietnamese policymakers need to make some policy changes to meet the TPP requirements. 
Participating entrepreneurs suggested the two Governments step up trade and investment promotion programmes and strengthen cooperation in training, science and technology to improve the administration standards and competitiveness of the two countries’ businesses. 
US businesses should build research centres and training facilities in Vietnam as well as set up strategic partnerships with Vietnamese partners, including small- and medium-sized enterprises, they said.