VN, US bolster ties with eye on TPP

Thursday, Sep 18, 2014 08:00

Deputy Prime Minister Vu Van Ninh meets with representatives of US businesses community on September 16. — Photo VGP
WASHINGTON (Biz Hub) — Deputy Prime Minister Vu Van Ninh met with US parliamentarians and businesses on Tuesday to discuss ways to enhance bilateral economic and trade ties with a focus on the acceleration of the Trans-Pacific Partnership (TPP).

During meetings with Chairman of the US House of Representatives' Committee for Finance Ron Wyden and Chairman of the Senate's Budget Committee David Camp, Deputy PM Ninh said Viet Nam would continue to actively co-ordinate with the US and other parties to conclude TPP negotiations.

He suggested the US give Viet Nam a degree of flexibility and technical assistance in the implementation of TPP commitments due to the differences between the two countries in terms of development.

The two sides also discussed a number of other issues, including the US's recognition of Viet Nam's market economy regulations and the implementation of a supervision programme for tra and basa fish from Viet Nam.

The Deputy PM also briefed representatives from the US-ASEAN Business Council and the American Chamber of Commerce and US businesses on Viet Nam's economic policies and investment and trade expansion trends. He gave an overview of bilateral co-operation between the two countries in recent years, focusing on the economy, trade and investment, and asked US firms to support the prompt conclusion of TPP negotiations and encourage authorities to create favourable conditions for the process.

Many US giants, such as Google, General Motors and American Eagle, firmly believed US negotiators needed to be more flexible when opening the market to Vietnamese exports, especially with regard to garments, textiles and footwear.

Ninh praised US businesses for pushing the TPP negotiation process forward, suggesting the two business communities work together closely to embrace bilateral trade links in the near future.

He confirmed the Vietnamese Government would continue to create an advantageous investment climate for US partners expecting to make long-term investments in Viet Nam. — VNS

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