Breaking Down Barriers: Vietnam’s Foreign Minister Urges US Recognition as a Market Economy

FM Son from Vietnam expresses hope for US to recognize ‘market economy’ status soon | WTAQ News Talk | 97.5 FM · 1360 AM

During a recent speech at the Brookings Institution in Washington, Vietnamese Foreign Minister Bui Thanh Son expressed his hope for the United States to recognize Vietnam as a market economy. Currently, the U.S. classifies Vietnam as a ‘non-market economy’ in import injury cases, which results in higher anti-dumping duties.

Son emphasized the need for enhanced economic trade and investment cooperation between the two countries following the establishment of a Comprehensive Strategic Partnership (CSP) in 2019. He highlighted key areas for collaboration, including supply chain resilience, infrastructure connectivity, digital economy, energy, green economy, and logistics.

By focusing on these areas, both countries can work towards strengthening their economic ties and promoting mutual growth and development. Son stressed that closer ties and partnerships will be mutually beneficial for both nations in terms of economic growth and stability.

In conclusion, Son’s remarks underscored the importance of recognizing Vietnam as a market economy and working towards building a more robust economic relationship with the United States. By collaborating on key areas such as technology and infrastructure development, both countries can create a more prosperous future for themselves and their people.

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