In a recent interview, Mr Marantis said that the Southeast Asian country is a young market but is growing fast. After Vietnam and the US signed their bilateral trade agreement, bilateral trade revenues increased considerably from US$1 billion in 2001 to US$15 billion in 2008. This achievement has inspired the US to seek closer cooperation with Vietnam.

The former Chief Legal Advisor for the US-Vietnam Trade Council praised Vietnam’s ability to implement its commitments after joining the WTO as well as its commitments signed with the US. The cooperation between the two countries has been extremely productive so far, he said.

The US is now Vietnam’s largest export market, making up more than 20 percent of the country’s total export revenues. The North American nation is also the number one investor in Vietnam.