Vietnam is expected to sign a reciprocal trade agreement with the United States (US) soon, Deputy Prime Minister Bui Thanh Son said at a US-Vietnam business conference in Hanoi.
He stressed that only through trust and cooperation can prosperity be achieved, and Vietnam remains committed to enhancing cooperation with the US.
In October, the two countries agreed to finalize the agreement in the coming weeks.
The agreement involves tariffs on Vietnamese products imported into the US to be maintained at 20%, but exemptions will be given to some undisclosed products.
Bui also called on US businesses to support Vietnamese leader To Lam's visit to the US and encourage Washington to recognize Vietnam as a market economy and ease restrictions on high-tech exports to the country.
Vietnamese trade negotiators led by Minister of Industry and Trade Nguyen Hong Dien began a new round of talks in Washington from November 12 to 14.
The move is significant given Vietnam's growing exports to the US and Washington's efforts to make Vietnam one of its key trading partners in Southeast Asia, especially in the context of competition with China.
Analysts point out that the agreement will not only strengthen Vietnam's position in the global supply chain but also signal to investors that the country is ready for trade policy reforms.
