State leader speaks with US business representatives

(VOV) - There is great untapped potential for cooperation between the US and Vietnam, President Truong Tan Sang said on September 25 at a business forum convened on the sidelines of a UN Summit in New York.

“Total commercial trade hit US$36.3 billion in 2014 but is still of moderate proportions,” said President Sang, and the two nations business communities could prosper tremendously with the passage of the Trans-Pacific Partnership (TPP) trade agreement.

In addition, US businesses investing in Vietnam ranked 7th overall Sang underscored and the Vietnam government is committed to making the business climate more conducive to their needs.

Sang said the country has accomplished much, but more needs to be done to complete market economic mechanisms and the legal framework, combat corruption and improve transparency.

“I am hopeful that the US government will soon recognize Vietnam’s market economy,” Sang stressed and two nation’s borders are opened wide to allow goods and services to flow freely across them.

UABC President Alexander Feldman in turn touted the cooperative potential and opportunities for US and Vietnam businesses, saying President Sang’s attendance at the dialogue shows his strong desire to strengthen economic ties.

The forum organised by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the US-ASEAN Business Council (UABC) and the Vietnam Embassy attracted a large gathering of an estimated 60 US business leaders.

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