Second round of Vietnam-US trade talks underway
Vietnam was among a group of six economies out of over 100 countries selected by the US for trade negotiations.
THE HANOI TIMES — Vietnam and the US are talking about the second round of negotiations on a bilateral trade agreement in Washington, D.C. on May 19-22.
After the US announced the postponement of reciprocal duties and the launch of formal negotiations, Vietnam was among the six priority economies selected for negotiations (alongside the United Kingdom, India, South Korea, Japan, and Indonesia).
Earlier this May, Vietnam’s technical-level delegation arrived in the US to discuss the terms of the bilateral trade negotiations with relevant American agencies. On May 19 (May 20 in Hanoi), the first day of formal talks, both sides discussed a comprehensive approach to address key mutual concerns and accelerate the negotiation process.
According to the Ministry of Industry and Trade of Vietnam (MoIT), the two sides held frank and constructive discussions on several issues, focusing on clarifying the legal language of the draft agreement and exchanging information on existing policy frameworks.
"These exchanges will form the basis for the next steps in the negotiations," the ministry said in a statement.
US-grown Cosmic Crisp apples at BRGMart. Photo: BRG
On May 16, Minister of Industry and Trade Nguyen Hong Dien and US Trade Representative James Greer held the first in-person, ministerial-level negotiation regarding the proposed reciprocal trade agreement.
As previously outlined, the agreement is expected to include provisions related to tariffs. The agreement aims to establish a long-term framework that promotes stable and mutually beneficial economic and trade relations. This framework is also consistent with the goals of the Comprehensive Strategic Partnership between the two countries.
The meeting between Minister Nguyen Hong Dien and Vice President of Westinghouse Margaret Cosentino.
On May 16, Nguyen Hong Dien also met with Westinghouse Electric Company, a leading global provider of nuclear energy technology.
During the meeting, Dien noted that Vietnam has selected several prospective sites to develop a nuclear power plant. This provides a foundation for enhancing cooperation with international partners, such as Westinghouse, on large-scale nuclear power projects and small modular reactors (SMRs). He emphasized that energy cooperation would also be key in balancing the bilateral trade relationship.
Margaret Cosentino, Vice President of Westinghouse, expressed strong support for Vietnam’s plans and underscored the importance of long-term energy collaboration.
Regarding this matter, Westinghouse and Petrovietnam seek to sign a memorandum of understanding (MoU) on nuclear power development.
The two companies also agreed to expand their cooperation in key areas, including infrastructure investment models, such as public-private partnership (PPP) and build-operate-transfer (BOT), technology transfer, and training and developing technical human resources for Vietnam’s nuclear power sector.
