Tag: Vietnam - US

Mr. Rich McClellan, Country Director of the Tony Blair Institute for Global Change in Vietnam, discusses the prospects for Vietnam - US economic relations and addresses the key factors Vietnam must improve to strengthen trade ties.

The first regular non-stop flight between Vietnam and the US, operated by Vietnam Airlines and expected later this month, will open up more opportunities for the two countries in terms of trade and investment. Two-way trade turnover is expected to reach a record $100 billion this year.

The US was Vietnam’s largest agriculture, forestry, and fishery export market in the first eight months of 2021, with turnover of nearly $11 billion; far outpacing the second-largest market, China, with $6.1 billion.

The United States Trade Representative (USTR) has announced an official decision to not apply trade adjustment measures to Vietnam. The reason is the recent agreement between the US Department of Finance and the State Bank of Vietnam (SBV), in which the SBV provided satisfactory solutions to an investigation of Vietnam’s monetary policy under Section 301 of the US Trade Act of 1974.