Conference examines economic aspects of Vietnam-US relations

TCCT Trade is considered the most successful cooperation field between Vietnam and the US in the 20 years since they normalised their diplomatic ties, as heard at a conference in Ho Chi Minh City on July 3

Speaking at the event, co-organised by the Vietnam Union of Friendship Organisations and the Vietnam-US Friendship Association in HCM City, Deputy Minister of Industry and Trade Tran Tuan Anh affirmed that trade and economics have contributed importantly to the sustainable development of the bilateral ties.

Once the Trans-Pacific Partnership (TPP) agreement is signed, the two countries’ partnership will be lifted to a new level, he said, adding that the increased opportunities brought by the agreement will be coupled with increased challenges which require the Government, businesses and people to take active measures to turn challenges into opportunities.

US Consul General in the city Rena Bitter noted that over the past two decades, the two countries have enjoyed numerous achievements in bilateral relations with the value of trade hitting 35 billion USD in 2014 from 500 million USD in 1995.

Educational cooperation has also seen positive results, she said, adding that the number of Vietnamese students in the US is ranked eighth in the foreign student community in the country.

The relationship will be enhanced once the Harvard-affiliated Fulbright University Vietnam is opened in Ho Chi Minh City, she added.

Huynh The Du, a lecturer for the Fulbright Economics Teaching Programme, said that the US is an extremely important element in Vietnam’s international integration process. The TPP, with the participation of both the US and Vietnam, will help Vietnam enter a new stage of economic integration./.