Prime Minister Pham Minh Chinh asked relevant ministries, agencies and localities to effectively resolving issues of concern to US businesses, particularly those relating to product origins, non-tariff barriers and intellectual property regulations, while chairing a meeting between standing cabinet members and leaders of ministries, sectors, and localities on April 10.

They were also instructed to consider increasing purchases of US products that Vietnam has demand, such as liquefied natural gas (LNG) and aircraft.

PM Chinh noted that the US has agreed to initiate negotiations with Vietnam for a reciprocal trade agreement.

He directed the immediate formation of a negotiating team led by the Minister of Industry and Trade to engage with the US on a balanced and sustainable reciprocal trade agreement, laying stress on the need to closely monitor developments and propose timely, flexible and effective adaptation solutions.

The negotiations must also be placed in Vietnam’s global trade relations, including the 17 signed free trade pacts, he said, adding this is also an opportunity for Vietnam to restructure its economy for rapid and sustainable growth, reorganize enterprises, and diversify products, markets, and supply chains.