Forum seeks ways to promote Vietnam – US trade in a new context

Trade has become a pillar of the growing bilateral relationship between Vietnam and the US, Hoang Quang Phong - Vice Chairman of the Vietnam Chamber of Commerce and Industry said on November 16.


Speaking at a forum on promoting Vietnam-US trade in the new context, Phong said that Vietnam has been attractive to US businesses with a market of nearly 100 million consumers, positive growth, open policies, close connection with the Association of Southeast Asian Nations market.

Despite the prolonged COVID-19 pandemic and its complicated developments which disrupted the supply chains, 2020 was the first year that the total trade turnover between Vietnam and the US has exceeded the 90 billion USD benchmark, reaching 90.8 billion USD.

Vietnam has become the 10th largest trading partner of the US, while the US is also the largest trading partner of Vietnam. Vietnam is one of the first countries in Asia to sign a trade agreement with the US./.