VN, US enjoy enormous benefits thanks to normalization of economic ties

Deputy Prime Minister Vuong Dinh Hue (3th from right), former US Secretary of State John Kerry (4th from right) at the event. Photo: VGP

Deputy Prime Minister Vuong Dinh Hue made the above statement while addressing a ceremony held in Ha Noi on Friday to mark the 25^th anniversary of the normalization of the bilateral economic ties.

The event was also attended by former US Secretary of State John Kerry, leaders of American Chamber of Commerce (AmCham), former Ambassadors and businesses representatives from the two countries.

The historic steps forward, both sides have taken, came as a result of the sides’ courage, lucid mind, strategic visions and strong belief in the bright future of the two nations, Hue stressed.

He also called former US Secretary of State John Kerry as a close friend of Viet Nam with great contributions to the development of the Viet Nam-US relationship.

Participants to the ceremony marking the 25th anniversary of normalizing the Viet Nam-US economic ties. Photo: VGP

Deputy PM Hue also took the occasion to extend thanks to the AmCham as well as American businesses for having great support for Viet Nam to sign the bilateral trade agreement with the US.

Over the past 25 years, the two-way trade rose 120 times, from US$450 million in 1994 to more than US$60 billion in 2018 and the US has been one of Viet Nam’s biggest importers, Hue highlighted.

Though Viet Nam is now home to many of the American business giants, namely GE, CocaCola, Microsoft, IBM, Nike, ExxonMobil among others, the US investments remain modest compared to the two countries’ potentials.

Once again, Hue reaffirmed Viet Nam always regards the US as a top partner and stands ready to work with the US to further enhance cooperation across various fields, especially economy, trade, investment, science and technology, education to bring greater benefits to the two countries and for peace, cooperation and development on the globe.

By Quang Minh