Vietnam and the US should work closely with each other in settling emerging trade disputes on the basis of mutual trust, said Deputy PM Pham Gia Khiem.
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Deputy PM, FM Pham Gia Khiem (R) and Deputy US Trade Representative Demetrios Marantis, Hanoi, June 9, 2010
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Deputy PM Pham Gia Khiem expressed his desire yesterday in Hanoi while warmly welcoming Deputy US Trade Representative Demetrios Marantis who is present in Vietnam for an annual meeting of the inter-governmental cooperation council under the Trade and Investment Framework Agreement (TIFA).
The Deputy PM acknowledged the progress in the bilateral ties in recent years. Especially, the two-way trade volume stood at over US $15 billion last year and the US has become one of the leading investors in Vietnam.
Deputy PM Khiem took this occasion to recommend the US early recognize Vietnam as a market economy; grant the Generalized System of Preferences (GSP) for the latter; and facilitate the penetration of made-in-Vietnam goods into the US market.
Mr. Khiem also suggested the two sides enhance cooperation in education, including the establishment of US-financed universities in Vietnam.
For his part, Deputy US Trade Representative Demetrios Marantis emphasized that the linkages in such domains as economics, trade and investment will create an impetus for the bilateral relations to move forward.
Mr. Demetrios Marantis also acknowledged the host leader’s recommendations to take into account conditions of developing countries like Vietnam in the negotiation for the Trans-Pacific Partnership Agreement (TTP). He also hoped that the TPP negotiation process will be sped up when the US hosts the APEC summit late 2011.
Finally, the Deputy US Trade Representative called upon Vietnam to create favorable conditions for US investors to do profitable business in the fields of energy and infrastructure./.