Vietnam PM and President Trump Commit to Billions in Trade Deal

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The Prime Minister of Vietnam and a 100-member delegation of Vietnamese diplomats and businessmen received a warm welcome from President Donald Trump in Washington D.C. on May 31, 2017. The meeting took place at the White House with the focus on strengthening relations, beginning with a billion dollar trade partnership between the two countries.

“Prime Minister Phuc has done a spectacular job in Vietnam, led so many different categories in trade and other things,” Mr. Trump told reporters before their meeting. “We’re going to be discussing trade. We’re going to be discussing North Korea. We have many things to talk about and we look forward to being together, very much so.”

During their talks at the Cabinet Room following a 15-minute private meeting, President Trump welcomed the official visit to the US by PM Phúc and the high-ranking Vietnamese delegation, affirming that he attached importance to Vietnam-US relations as well as the role of Vietnam and ASEAN in the region.

Trump said he wanted the two countries’ ties to continue developing strongly in the time ahead.

The Prime Minister acknowledged the warm welcome of President Trump and the US administration, stressing that Vietnam treasured its comprehensive partnership with the US and highly valued recent steps taken by the Trump administration to implement the policy towards the Asia-Pacific region.

The two leaders noted with satisfaction the extensive development of the mutual comprehensive partnership in various spheres and shared the view that there remain many opportunities for bilateral ties.

Both leaders affirmed their commitment to maintaining efforts to boost Vietnam-US relations in a stable, long-term, constructive and mutually beneficial fashion, which would not only benefit both countries but also enhance peace, stability, cooperation and development in the Asia-Pacific region and the world, on the basis of compliance with the UN Charter and international law, respect for each other’s independence, sovereignty, territorial integrity and political regime.

Regarding ways to enhance relations, Phuc and Trump agreed to increase delegation exchanges and meetings, especially at the highest levels, to improve effectiveness of existing and future cooperation mechanisms.

PM Phúc affirmed Vietnam’s resolve to press on with economic restructuring and integration globally, and stepping up the two countries’ win-win cooperation in economy, trade and investment. He asked that both sides consider the formation of a value chain from production to consumption to make use of the two economies’ complementary features.

President Trump welcomed the settlement of some prioritized trade issues including the opening of markets in Vietnam and the U.S. for agricultural and industrial products, and information technology products and services.

The two leaders were unanimous in effectively carrying out the Trade and Investment Framework Agreement to deal with bilateral economic problems in a constructive and fair spirit and to satisfy each side’s legitimate interests.
They also agreed to strengthen cooperation in other bilateral aspects such as humanitarian aid, war consequences settlement, people-to-people exchanges, science, technology, education-training, health care, defense and security.

The Vietnamese leader welcomed the U.S. continued participation and active contribution to the building of regional security and economic structures. He assured that Vietnam would continue to work closely with the US, including in the upcoming APEC meetings and the East Asia Summit.

Trump noted the the U.S. continued to support ASEAN’s central role and promote the US-ASEAN strategic partnership. He said it would also support Vietnam to successfully organize APEC activities in 2017, adding that he looked forwards to his visit to Vietnam in November to attend the APEC Economic Leaders’ Meeting.

The two leaders also discussed the importance of the freedom of navigation for flights in and over the East Sea, affirming their support for the peaceful settlement of disputes on the basis of international law, including full respect for diplomatic and legal processes. They applauded the progress of negotiations on an effective and meaningful Code of Conduct in the East Sea (COC).

They said they supported de-nuclearisation in the Korean Peninsula and asked all parties concerned to seriously implement relevant resolutions of the UN Security Council.

At the talks, PM Phúc, on behalf of the leaders of the Vietnamese Party and State, invited President Trump and his spouse and family to pay an official visit to Vietnam and attend the APEC Economic Leaders’ Meeting this year. President Trump accepted the invitation.

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