US official talks trade-economic ties with Vietnam

11:01 AM @ Thursday - 10 June, 2010
The US and Vietnam should work together more closely to help US investors recognise their investment opportunities in the Southeast Asian country, said a senior trade official.

Deputy US Trade Representative Ambassador Demetrios Marantis delivered this remark at a dialogue with students from the Foreign Trade University in the capital city of Hanoi on June 10.

Marantis spoke of world trade prospects within the next decade, the Obama government’s trade policies and the outlook for Vietnam-US economic and trade relations in the future.

Vietnam ’s accession to the World Trade Organisation (WTO) and especially the Vietnam-US Bilateral Trade Agreement (BTA) are facilitating US investors approach to the Vietnamese market, he told the participants.

The dialogue was co- organised by the National Committee for International Economic Cooperation, the Ministry of Industry and Trade, the Foreign Trade University and the US Embassy in Hanoi .

During a press conference later in the day, Marantis said he had met with Deputy Prime Minister-cum-Foreign Minister Pham Gia Khiem, and held working sessions with the Ministers of Industry and Trade, and Agriculture and Rural Development, National Assembly deputies and businesspeople to discuss progress in economic, trade and investment relations between Vietnam and the US over the past 15 years.

Two-way trade saw 15-fold increase to 15.4 billion USD last year from just 1 billion USD in 2001, the US official told local and foreign reporters.

Regarding the Trans-Pacific Strategic Economic Partnership Agreement (TPP), Marantis said he hoped that the TPP will help to further connect the US and Vietnam and also serve to increase the competitiveness of Vietnam in the global economy.

The TPP will also help Vietnamese small- and medium-sized enterprises better integrate into the global economy, increase their exports, and at the same time facilitate the flow of US goods in Asia and the Pacific.

Vietnam has proved its seriousness in abiding by international commitments and its reform plans as the country has strictly implemented the BTA and its commitments to WTO, he said.

Vietnam will be capable of negotiating and meeting requirements at next rounds of TPP talks, the deputy trade representative added./.

(Source: http://en.vietnamplus.vn)
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