Minister of Industry and Trade Nguyen Hong Dien recently met with Mr. Marc E. Knapper, U.S. Ambassador to Vietnam, to discuss new directions for enhancing bilateral economic, trade, and investment cooperation in the coming period.
Positive Start for Vietnam–U.S. Trade Relations in 2025
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At the meeting, Minister Nguyen Hong Dien praised the positive start to economic and trade relations between Vietnam and the United States in early 2025, as both countries successfully reached a bilateral agreement to resolve disputes related to the anti-dumping case on Vietnamese pangasius and basa fish at the WTO.
The Minister emphasized that this resolution reflects the goodwill and persistent negotiation efforts from both sides.
Minister Dien also underlined the complementary nature of the two economies, which serves as a foundation for fostering balanced, sustainable, and mutually beneficial cooperation that safeguards national interests and strengthens long-term partnership.
“Vietnam always considers the United States a top strategic and economic partner,” Minister Dien affirmed, expressing Vietnam’s desire to promote comprehensive and sustainable cooperation in trade and investment, thereby deepening mutual understanding and strategic trust between the two nations.
The United States – A Reliable Source of Imports for Vietnam
Vietnam regards the U.S. as one of its most important and reliable import partners, particularly in energy, machinery, technology, and raw materials. The United States is currently Vietnam’s fifth-largest import market, with several key product categories exceeding USD 1 billion in import value.
Major U.S. Export Categories to Vietnam (2024):
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Electronics and components: USD 4.4 billion
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Chemicals, animal feed, plastics, machinery, and equipment – each over USD 1 billion
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Wheat: USD 150 million
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Wood products: USD 325 million
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Soybeans: USD 464 million
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Pharmaceuticals: USD 512 million
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Automobiles and vehicles: USD 580 million
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Fruits and vegetables: over USD 540 million
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Cotton: USD 680 million
On the other hand, Vietnam is the ninth-largest agricultural export market for the United States, importing a wide range of products such as beef, pork, chicken, seafood, dairy, soybeans, corn, grapes, apples, cherries, and blueberries.
Vietnamese consumers particularly favor U.S. apples, with annual imports exceeding 2 million boxes.
Expanding Agricultural and Supply Chain Cooperation
Minister Nguyen Hong Dien highlighted the potential for deeper agricultural cooperation, emphasizing that both countries should diversify products and strengthen supply chains.
Vietnam is ready to further open its market for U.S. agricultural products, while also expecting the U.S. to increase market access for Vietnamese agricultural exports.
“We encourage greater U.S. investment in Vietnam’s agricultural and energy sectors,” Minister Dien noted.
U.S. Commitment to Strengthening Comprehensive Strategic Partnership
Ambassador Marc E. Knapper reaffirmed that 2025 will serve as a pivotal year in advancing the Vietnam–U.S. Comprehensive Strategic Partnership, with economic and trade cooperation as a central pillar.
He expressed that both the public and private sectors of the U.S. are eager to expand cooperation with Vietnam in new, high-potential sectors such as:
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Energy security
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Climate resilience
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Food security
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High technology, including semiconductors, artificial intelligence, and aviation
The U.S. side expressed strong interest in participating in major Vietnamese infrastructure and energy projects and encouraged Vietnam to improve its legal frameworks to facilitate U.S. investment flows in these emerging sectors.
Ambassador Knapper also appreciated Vietnam’s ongoing cooperation in preventing trade fraud, illegal transshipment, and circumvention of trade defense measures, ensuring fairness for businesses from both nations.
Toward Fair and Sustainable Trade
Responding to Vietnam’s concerns over recent changes in U.S. trade policy, Ambassador Knapper clarified that the new U.S. trade strategy aims to promote fair trade, safeguard economic and national security, and protect workers and businesses in both countries.
“Recent tariff measures are not targeted at Vietnam,” he emphasized. “The United States wishes to maintain and strengthen bilateral economic relations with Vietnam in a positive, forward-looking manner.”
Minister Nguyen Hong Dien agreed with the principle of fair and transparent trade, affirming that Vietnam does not impose any discriminatory or restrictive trade measures that could harm U.S. industries or workers.
Vietnam also welcomes U.S. investors to participate in energy development projects, including power generation, oil and gas exploration, and natural gas and mineral industries.
Both sides reaffirmed their commitment to implementing the Comprehensive Energy Cooperation Memorandum of Understanding signed in October 2019, laying a solid foundation for sustainable energy partnership.