Vietnam wishes to work closely with the US to advance negotiations on a reciprocal trade agreement that is fair, balanced and mutually beneficial, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan told newly-appointed Deputy US Trade Representative Bryan R. Switzer during a virtual call on October 14.

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan holds a virtual call with Deputy US Trade Representative Bryan R. Switzer on October 14.

Tan, who also serves as Deputy Head of the Government’s delegation of negotiations on the reciprocal trade deal with the US, said the goal is to raise mutual understanding, bolster strategic trust and contribute to the stability and sustainable development of bilateral ties.

He congratulated Switzer on his September appointment and underscored Vietnam’s consistent view of the US as one of the top strategic partners.

Switzer, in reply, praised ongoing cooperation, noting that while some technical issues remain, negotiations are progressing smoothly with effective coordination at all levels, from ministers and deputy delegation heads to technical working groups.

Both sides expressed satisfaction with the positive and substantive growth of Vietnam–US relations across various areas.

This follows 30 years of diplomatic relations, a decade of Comprehensive Partnership, and more than two years since the upgrade to a Comprehensive Strategic Partnership.

Economic, trade and investment ties remain the pillar and key driver of the bilateral relationship.

Two-way trade neared 150 billion USD in 2024, with the US now standing as Vietnam’s second-largest trade partner and a critical export market. The US also ranks 11th among 142 countries and territories investing in Vietnam.

Both sides are committed to regular exchanges and intensified efforts to finalise a trade agreement that aligns with the priorities and interests of both nations.

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