Vietnam Calls for US Recognition as Market Economy to Foster Economic Growth and Cooperation

During a speech at the Brookings Institution in Washington, Vietnamese Foreign Minister Bui Thanh Son emphasized the importance of recognizing Vietnam as a market economy. Currently, the U.S. categorizes Vietnam as a ‘non-market economy’ in import injury cases, resulting in higher anti-dumping duties. However, Son expressed his hope for the United States to recognize Vietnam’s economic progress and classify it as a market economy.

Son highlighted key areas for collaboration between the two countries, including supply chain resilience, infrastructure connectivity, digital economy, energy green economy, and logistics. By focusing on these areas, both the United States and Vietnam can work towards strengthening their economic ties and promoting mutual growth and development.

In his speech, Son addressed the need for increased cooperation and collaboration between the two nations. With a focus on developing key economic sectors, both countries can benefit from closer ties and partnerships in the future. The foreign minister’s remarks underscored that recognizing Vietnam as a market economy is crucial to building a more robust economic relationship with the United States.