Vietnam-US relations continue strong progress: PM

With a focus on economic and trade cooperation, Vietnam-US relations continue to make strong progress, said Prime Minister Pham Minh Chinh during his meeting with US President Joe Biden on the sidelines of the expanded G7 Summit in Hiroshima, Japan on May 20.

Prime Minister Pham Minh Chinh and US President Joe Biden are at the summit's sideline. Photo: Nhat Bac

The two leaders agreed on measures to strengthen bilateral relations between Vietnam and the US. They also discussed international and regional issues of common concern. Both stressed the importance of maintaining exchanges between delegations at all levels, especially high-level delegations.

This is the second time in six months that the leaders of Vietnam and the US have met, following their previous meeting at the 40th and 41st ASEAN Summits and related summits in Phnom Penh, Cambodia, in November 2022.

During their conversation, President Biden expressed his deep appreciation for the results of the telephone conversation with General Secretary Nguyen Phu Trong in late March. During a phone call, the General Secretary called on both nations to strengthen cooperation in economy, science and technology, which remain the driving forces of bilateral relations.

Party Secretary Nguyen Phu Trong and President Biden also agreed to maintain peace, stability, and cooperation and ensure navigation freedom. They pledged not to use or threaten the use of force in international relations and stressed the importance of implementing the Declaration on the Conduct of Parties in the East Sea (DOC) and working towards the early signing of an effective and efficient Code of Conduct (COC) by international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

The two countries have established a comprehensive partnership since the normalization of Vietnam-US relations in 1995. Last year, trade turnover between Vietnam and the US exceeded US$123 billion, an increase of 11% over the previous year.

The US has consistently been Vietnam's largest export market, while Vietnam ranks as the 8th largest trading partner of the US in the world and holds the top position within ASEAN. US foreign direct investment in Vietnam has reached $11.4 billion, ranking 11th among countries and territories.

On the same day, the Vietnamese Prime Minister met with several world leaders, including British Prime Minister Rishi Sunak, German Chancellor Olaf Scholz, Canadian Prime Minister Justin Trudeau, Indian Prime Minister Narendra Modi, President of the Comoros Federation Azali Assoumani, as well as leaders of G7 member countries and various international organizations.

During these meetings, Vietnamese leaders made many important proposals for cooperation in the economy, trade, investment, digital transformation, green transformation, circular economy, and innovation.

Prime Minister Chinh is attending the 49th G7 Summit in Hiroshima, Japan. This event is part of the larger G7 Summit, held from May 19-22.

The G7 comprises advanced industrialized nations, namely the United States, the United Kingdom, France, Germany, Japan, Canada, and Italy, which are critical in shaping and strengthening global structures and governance. G7 members hold more than half of the world's wealth, account for about 30% of global GDP, and represent 10% of the world's population.

This year, Vietnam was invited by Japan as one of two Southeast Asian countries, along with Indonesia, to attend the G7 Summit. This is Vietnam's third participation in the expanded G7 Summit and the second time it has been invited by Japan.