US Secretary of State Confirms Commitment to Strengthen Economic Ties Between Vietnam and US

The US Secretary of State has confirmed that the United States and Vietnam are continuing to strengthen their economic relationship. Additionally, the US is providing assistance to Vietnam in order to support its ongoing reforms.

0
398
US Secretary of State Affirmed to Deepen Economic Cooperation Between Vietnam and US
US Secretary of State Antony Blinken. Photo: Nguyen Tien Anh Tuan

“A decade since the United States and Vietnam established the Comprehensive Partnership, and nearly 28 years since the two countries normalized their diplomatic relations, we have cultivated a relationship that has grown robustly, dynamically, and effectively,” declared US Secretary of State Antony Blinken at a press conference on the afternoon of April 15.

Secretary of State Blinken emphasized that during his visits to Vietnam, he was primarily focused on how the United States could continue to aid in the success of the country. He noted that such collaboration would be beneficial for the people of Vietnam, the people of the United States, and the wider region.

“Our two nations are working together for a broad mutual benefit, and we believe that by supporting Vietnam’s ambitions, we will also advance our own – from creating jobs for Americans and strengthening American businesses, to taking more strides toward addressing the climate crisis that affects us all and preventing pandemics,” stated Blinken. “I also focus on how our two countries can promote a free and open Indo-Pacific, with peace and respect for the rules-based international order.”

Blinken stated that the U.S. and Vietnamese delegations discussed their respective efforts to promote widespread prosperity in Vietnam and across the region, including through the Indo-Pacific Economic Framework for Prosperity (IPEF). He highlighted that these efforts are necessary to ensure that everyone in the region has the opportunity to benefit from the promise of an increasingly interconnected and prosperous Indo-Pacific.

Vietnam played an integral role in the negotiations on all four pillars of the International Partnership for Economic Framework (IPEF), thus driving the discussion on topics that will shape the global economy in the 21st century.

These include supply chain resilience, clean energy transition, and digital connectivity – which in turn benefit Americans and people around the world.

The two sides discussed mutual respect for ASEAN centrality and the need to further strengthen their close partnership through regional economic frameworks, such as the Asia-Pacific Economic Cooperation (APEC). This will ensure that ASEAN remains the fulcrum of regional cooperation and integration in the Asia-Pacific region.

Blinken expressed his appreciation for Vietnam’s invaluable leadership in tackling development challenges in the Mekong region, which have been exacerbated by the construction of dams, climate change, and overfishing.

The U.S. Secretary of State has recently reaffirmed the two countries’ commitment to building a bilateral economic partnership. To this end, the United States is offering support to Vietnam in order to help it advance with a number of key reforms, such as those related to labor law, intellectual property, and fair trade. As a result of these reforms, Vietnam has seen remarkable growth and is now one of the world’s fastest-growing economies.

US Secretary of State Mike Pompeo believes that Vietnam has the potential to become a high-income, connected nation by the year 2045. To achieve this goal, he suggests that the nation focus on economic growth that will benefit all its communities while also building resilience to climate change. This will ensure that Vietnam is well-prepared for any changes in the environment that could potentially affect its progress. By working together, Vietnam can reach its goal of becoming a high-income, connected nation in just a few short decades.

The United States understands that Vietnam is growingly exposed to the threats caused by the climate crisis. As Vietnam takes measures to become a pioneer in the clean energy transition, the United States is also investing in Vietnam’s incredible opportunity.

US Secretary of State Affirmed to Deepen Economic Cooperation Between Vietnam and US
US Secretary of State Antony Blinken. Photo: Nguyen Tien Anh Tuan

According to Secretary of State Antony Blinken, the United States is launching new bilateral climate initiatives in the wake of Vice President Kamala Harris’ visit to Vietnam in August 2021. The initiatives are aimed at addressing the urgent challenges posed by climate change and will seek to build on the progress made in the region.

From preserving ecosystems and decreasing emissions from rice cultivation in the Mekong Delta to broadening a market-driven and sustainable energy system, and encouraging the private sector to take action towards environmental protection through the promotion of electric vehicles, there is a wide range of initiatives to promote environmental sustainability.

The United States is also promoting the power of regional frameworks such as the Just Energy Transition Partnership, of which Vietnam has recently become a member. Through this partnership, the US will invest $15.5 billion to help Vietnam reach its goal of achieving Net Zero emissions by 2050. Additionally, the Japan-U.S.-Mekong Power Partnership is also being fostered to further this mission.

The Secretary of State recently affirmed strong cooperation with Vietnam in many aspects, including public health. This was marked by the establishment of the National Centers for Disease Control and Prevention (CDC) Office in Vietnam.

We have worked diligently to tackle the Covid-19 pandemic, with the US donating over 40 million doses of the vaccine, after Vietnam contributed millions of protective items during the initial phase of the pandemic, when the United States was in its most desperate need. This is a clear demonstration of countries coming together when mutual aid is necessary the most.”

Rosie Nguyen