Vietnam, US create opportunities for economic growth
VOV.VN - Minister and Head of the Government Office Mai Tien Dung has stated that Vietnam and the US are determined to work together to promote bilateral trade and investment.
Speaking at a government press conference on June 3 in Hanoi, Mr Dung said two-way trade between Vietnam and the US is approximately US$50 billion with Vietnam’s import from and export to the US valuing US$19 billion and US$32 billion, respectively.
In his talks with US President Donald Trump, Prime Minister Nguyen Xuan Phuc said Vietnam would not compete with the US but work with the US to create opportunities.
“US businesses have potential in technological and scientific advances. Vietnam buys engines of Boeing air craft and equipment of wind power plants. But Vietnam exports to the US agricultural products like vegetables, fruits, cat fish and shrimps which are its strength.
Mentioning interests of both sides, the Prime Minister showed a picture of a pair of shoes made in Vietnam. At the price of US$100, Vietnam only earns US$22 and the remaining US$78 cover transportation fees, taxes, and retail costs of US$55 that the Americans earn. This shows that interests of both sides are ensured," he said.
Concerning the promotion of Vietnam-US trade and investment, Deputy Minister of Industry and Trade Do Thang Hai said,“It’s important that agreements signed during the visit are realized. We will do our best to support businesses of both countries to realize signed agreements to contribute to the development of Vietnamese and US businesses and the two countries' economies.”
Nearly 100 Vietnamese businesses accompanied Prime Minister Nguyen Xuan Phuc during his visit to the US from May 29-3. The two sides signed contracts worth more than US$10 billion.