Fashion
Vietnam, US to finalise reciprocal trade agreement soon
Hung said the agreement would help further deepen economic, trade and investment cooperation as the main driving force for Vietnam-US relations.
He stressed that Vietnam does not pursue a policy of overcapacity and that Vietnamese enterprises operate under market principles. He noted that the two economies are complementary rather than directly competitive.
Vietnam and the US will continue working towards a fair and balanced reciprocal trade agreement, Prime Minister Le Minh Hung said during talks with Deputy US Trade Representative Rick Switzer.
Both sides said the pact would deepen economic, trade and investment ties, while Vietnam reaffirmed its stance on market principles, forced labour and IP protection.
He also emphasised that Vietnamese law strictly prohibits all forms of forced labour, adding that Vietnam has actively implemented international commitments in this area, including conventions of the International Labor Organisation (ILO) and obligations under various free trade agreements.
He also reiterated that firmly combating and strictly handling violations of intellectual property rights remain a national priority of Vietnam.
Switzer underscored the significance of a reciprocal trade agreement for bilateral economic and trade cooperation. He praised the constructive cooperation and goodwill demonstrated by Vietnamese ministries, agencies, and the government negotiating team throughout the negotiation process.
He affirmed that both the Office of the US Trade Representative and he personally would continue to work closely with Vietnamese counterparts to soon reach the agreement, contributing to further advancing Vietnam-US relations in the years ahead.
Fibre2Fashion News Desk (JP)