Vietnam should be ready for bilateral trade deal talks with US: experts

Vietnam should be ready to negotiate a free trade agreement with the US, according to some speakers at a recent seminar on the impacts of the Trump administration’s policies in Asia-Pacific.
vietnam should be ready for bilateral trade deal talks with us experts

US President Donald Trump speaks at an event in Louisville, Kentucky

At the event, held at Harvard University last weekend, Prof. David Dapice from Harvard recommended Vietnam focus on improving its industrial sector’s capacity and competitiveness.

It should watch whether Japan and Australia want to pursue a Trans-Pacific Partnership (TPP) without the US, and be ready to negotiate a free trade deal with the US, similar to what Singapore and the Republic of Korea have done.

Dapice also suggested Vietnam monitor China’s moves in promoting a China-led trade bloc.

Aside from alternatives to the TPP and the US’s new policy on trade with Vietnam, participants delivered speeches on other issues, including the US’s alliances in Asia-Pacific in the new era, the Trump administration’s policy possibilities regarding the East Sea issue, and periphery and security partners in Asia-Pacific.

Many delegates stressed that the new administration’s Asia-Pacific policy remains unclear, which has raised concerns among the US’s partners in the region as the world order may change due to competition among powerful countries.

Some speakers said the new administration in the US may neglect Asia-Pacific and return its focus to the Middle East. This may raise tensions in the region in the East Sea and the East China Sea.

Prof. Ngo Vinh Long from the University of Maine and some other experts suggested small countries prepare long-term strategies in the face of the uncertainty.

Meanwhile, Vietnamese Ambassador to the US Pham Quang Vinh said he hopes that Vietnam-US relations will be reinforced despite the Trump administration resetting its foreign policy priorities.

Source: VNA

Related News

Total import-export turnover reaches US$715.55 billion in 11 months

Total import-export turnover reaches US$715.55 billion in 11 months

VCN - In November, total import-export turnover amounted to US$66.4 billion, down 4.1% compared to the previous month but up 9.0% compared to the same period last year.
Customs sector collects over VND384 trillion in revenue

Customs sector collects over VND384 trillion in revenue

VCN - By the end of November, the Customs revenue exceeded the estimate by 2.6% and increased by 14.8% compared to the same period in 2023, the General Department of Vietnam Customs released on December 11.
Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first half of November, 2024

The Vietnam Customs Statistics announced that in the first half (01-15/11/2024) of November-2024, Vietnam’s total exports of US dollars 16.73 billion and imports of US dollars 16.7 billion resulted in a trade surplus of nearly US dollars 31 million. Accordingly, the total value of export and import turnover of Vietnam in the first half of November was US dollars 33.44 billion, down by 9.7% as compared to the second half of October-2024.
Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2024

Preliminary assessment of Vietnam international merchandise trade performance in the first 10 months of 2024

1. According to trade statistics of Vietnam Customs, in October of 2024, a 5.2% upwards in total external merchandise turnover of Vietnam was recorded as compared to the result of September 2024. Exports went up 4.6 %, to USD 35.64 billion and imports increased 5.8%, to USD 33.60 billion in terms of month-on-month basis. As a result, there was a USD 2.03 billion surplus in Vietnam’s trade balance in this month.

Latest News

Vietnam pledges more contributions to UN humanitarian relief efforts

Vietnam pledges more contributions to UN humanitarian relief efforts

Deputy Minister of Foreign Affairs Do Hung Viet affirmed Vietnam's strong commitment to humanitarian relief efforts, helping people recover their lives after natural disasters and catastrophes, while addressing the 2025 Central Emergency Response Fund (CERF) High-Level Pledging Event in New York on December 10.
ADB raises growth forecasts for Vietnam

ADB raises growth forecasts for Vietnam

The Asian Development Bank (ADB) raised its 2024 and 2025 growth forecasts for Vietnam to 6.4% and 6.6% from previous predictions of 6.0% and 6.2%, driven by stronger trade activities and ongoing fiscal stimulus measures.
UNDP to support Vietnam on path toward circular economy

UNDP to support Vietnam on path toward circular economy

The UN Development Programme (UNDP) is willing to support Vietnam in conducting reforms to create an ecosystem to facilitate the transition to a greener circular and low-carbon economy, towards sustainable development, Resident Representative of UNDP in Vietnam Ramla Khalidi stated at the Vietnam Circular Economy Forum 2024 in Hanoi on December 10.
Vietnam’s industrial production rises by 8.4% in 11 months

Vietnam’s industrial production rises by 8.4% in 11 months

Vietnam's index of industrial production (IIP) in the January – November period rose 8.4% from the same period last year, reported the General Statistics Office (GSO).

More News

Vietnam maintains political stability, economic success in 2024: scholar

Vietnam maintains political stability, economic success in 2024: scholar

Professor Carl Thayer at the University of New South Wales at the Australian Defence Force Academy has described Vietnam’s maintenance of political stability and economic success as its outstanding achievements in 2024.
Vietnam expected to create hi-tech breakthroughs following partnership with NVIDIA

Vietnam expected to create hi-tech breakthroughs following partnership with NVIDIA

Two cutting-edge AI research centres, namely Vietnam Research and Development Centre and AI Data Centre, will be established under the partnership between Vietnam and US tech giant NVIDIA, making a significant milestone in the country’s technological transformation.
Vietnam needs a competitive energy market: experts

Vietnam needs a competitive energy market: experts

Vietnam is making significant strides toward transforming its energy sector by fostering a competitive and sustainable market to meet the nation’s socio-economic development demands.
PM calls for transformative energy projects

PM calls for transformative energy projects

Prime Minister Pham Minh Chinh has laid stress on the critical need for innovative power projects that are able to transform the nation’s energy landscape and prevent power shortages while addressing at a hybrid conference to review the investment and construction of the 500kVcircuit-3 power transmission line linking Quang Trach in the central province of Quang Binh and Pho Noi in the northern province of Hung Yen on December 8.
November’s CPI grows 0.13%

November’s CPI grows 0.13%

Vietnam's consumer price index (CPI) for November rose by 0.13% from the previous month and 2.77% compared to the same period last year, announced the General Statistics Office (GSO) on December 6.
PM urges extra efforts to fulfil all 15 targets set for 2024

PM urges extra efforts to fulfil all 15 targets set for 2024

Ministries and sectors need to promote the mindset of daring to think, daring to act, and daring to take responsibility for the common interests, with the goal of achieving all 15 out of 15 targets set for 2024 so as to lay the foundation and momentum for next year, Prime Minister Pham Minh Chinh stressed at the Government’s monthly regular meeting on December 7.
Expansionary fiscal policy prevents recession, boosts aggregate demand

Expansionary fiscal policy prevents recession, boosts aggregate demand

VCN - Customs News interviewed Ms. Nguyen Thanh Nga, Deputy Director of the Institute of Strategy and Financial Policy (Ministry of Finance).
Economic, diplomatic achievements promote Vietnam’s image: Chinese scholar

Economic, diplomatic achievements promote Vietnam’s image: Chinese scholar

Vietnam’s economic accomplishments and diplomatic efforts in 2024 have significantly contributed to building a positive image of the country both regionally and globally, commented Prof. Xu Liping, Director of the Centre for Southeast Asian Studies at the Chinese Academy of Social Science (CASS).
Efforts made to complete EC’s recommendations on IUU combat

Efforts made to complete EC’s recommendations on IUU combat

Authorities in the central province of Quang Ngai has increase inspections and control over the operation of all fishing vessels, ensure that they comply with regulations.
Read More

Your care

Latest Most read
Vietnam pledges more contributions to UN humanitarian relief efforts

Vietnam pledges more contributions to UN humanitarian relief efforts

Deputy Minister of Foreign Affairs Do Hung Viet affirmed Vietnam's strong commitment to humanitarian relief efforts, helping people recover their lives after natural disasters and catastrophes, while addressing the 2025 Central Emergency Response Fund (CERF) High-Level Pledging Event in New York on December 10.
ADB raises growth forecasts for Vietnam

ADB raises growth forecasts for Vietnam

The Asian Development Bank (ADB) raised its 2024 and 2025 growth forecasts for Vietnam to 6.4% and 6.6% from previous predictions of 6.0% and 6.2%, driven by stronger trade activities and ongoing fiscal stimulus measures.
UNDP to support Vietnam on path toward circular economy

UNDP to support Vietnam on path toward circular economy

The UN Development Programme (UNDP) is willing to support Vietnam in conducting reforms to create an ecosystem to facilitate the transition to a greener circular and low-carbon economy, towards sustainable development, Resident Representative of UNDP in Vietnam Ramla Khalidi stated at the Vietnam Circular Economy Forum 2024 in Hanoi on December 10.
Vietnam’s industrial production rises by 8.4% in 11 months

Vietnam’s industrial production rises by 8.4% in 11 months

Vietnam's index of industrial production (IIP) in the January – November period rose 8.4% from the same period last year, reported the General Statistics Office (GSO).
Vietnam maintains political stability, economic success in 2024: scholar

Vietnam maintains political stability, economic success in 2024: scholar

Professor Carl Thayer at the University of New South Wales at the Australian Defence Force Academy has described Vietnam’s maintenance of political stability and economic success as its outstanding achievements in 2024.
Mobile Version