Vietnam’s Foreign Minister Bui Thanh Son Urges US Recognition as Market Economy

Vietnam’s Foreign Minister Son expresses hope for US recognition of ‘market economy’ status

Vietnamese Foreign Minister Bui Thanh Son has expressed hope that the United States will soon recognize Vietnam as a market economy during remarks in Washington. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, which can result in higher anti-dumping duties.

Son emphasized the importance of enhancing economic trade and investment cooperation between the two countries following the agreement of a Comprehensive Strategic Partnership last year. Speaking at the Brookings Institution think tank, Son highlighted key areas for collaboration including supply chain resilience, infrastructure connectivity, digital economy, energy, green economy, and logistics.

Recognizing Vietnam as a market economy would further facilitate economic collaboration and help both countries realize the full potential of their partnership. By focusing on these areas, both the United States and Vietnam can strengthen their economic ties and create opportunities for growth and development in the region.

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