The US is cooperating with Vietnam to enhance self-resilience in the regional supply chain and the latter holds potential in the semiconductor supply chain, US Treasury Secretary Janet Yellen told visiting Prime Minister Pham Minh Chinh during their meeting in New York on September 20 (local time), the Government News has reported.

She noted that the US and Vietnam are important economic and trade partners and Vietnam is a key partner in implementing the US’s regional policy.

The establishment of the Comprehensive Strategic Partnership between the US and Vietnam reflects the spectacular steps forward in bilateral relations, she said, as well as the US’s commitment to opening up new economic cooperation opportunities between the two countries.

Prime Minister Chinh affirmed that Vietnam considers the US a leading partner, and regards cooperation in economics, finance, and trade and investment as priorities in the Comprehensive Strategic Partnership.

He suggested that the US Treasury Department further allocate resources to economic and trade relations, and called on the US to soon recognize Vietnam’s market economy.

The two countries should enhance dialogue and cooperation in areas of mutual benefit, such as infrastructure, financial services, personnel training, IT application, management experience sharing, loans and grants, taxes, and the capital and stock markets, he added.

He also proposed that the US ease trade remedies imposed on Vietnamese garments and textiles, wooden products, and, especially, farm produce.