Vietnam and the US made positive progress during the second round of negotiations on a reciprocal trade agreement, held in Washington D.C. from May 19 to 22.

Minister of Industry and Trade Nguyen Hong Dien (left) and US Trade Representative Jamieson Greer at the second round of negotiation on a reciprocal trade agreement.

The Vietnamese delegation was led by Minister of Industry and Trade Nguyen Hong Dien, who also heads the Government’s negotiation team.

The delegation included members of the negotiation team and representatives from relevant ministries and the State Bank of Vietnam.

Throughout the three-day talks, negotiations were conducted in a spirit of goodwill, straightforwardness, and respect for each other’s institutional frameworks.

The two sides sought to harmonise and balance interests in conformity with international commitments, with the development level of each country taken into account.

The two delegations exchanged information about their countries' respective policies, clarified the wording of the draft agreement, and discussed a general approach to addressing the fundamental issues of mutual concern in order to accelerate the negotiation process.

They engaged in open and constructive dialogue on economic and trade matters of the countries' core interests.

The two sides identified the groups of issues on which they reached consensus or positions have narrowed, as well as the ones requiring further discussion.

Both parties also agreed on timelines for providing feedback on the draft agreement, proposing specific wording, and holding virtual meetings in preparation for the next round of negotiations.

On the final day of talks, Minister Dien held a bilateral meeting with US Trade Representative Jamieson Greer to review the outcomes of the second round and identify key areas of focus for the next phase of negotiations, scheduled to take place in early June.

Greer commended Vietnam’s goodwill and efforts in addressing US concerns and expressed his hope that both sides will continue to step up technical and ministerial-level exchanges to reach an agreement as soon as possible.

Minister Dien welcomed Greer’s remarks and reaffirmed Vietnam’s commitment to advancing trade and economic relations with the US in a balanced and sustainable manner, for the benefit of both countries' people and businesses.

He agreed to instruct technical teams to continue increasing discussion to work toward a mutually acceptable agreement that meets the expectations and conditions of both sides.

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