HCMC – Vietnam and the U.S. are looking to deepen economic and financial cooperation, with a focus on high-tech trade access, technology transfer, and fair trade practices, according to discussions held between senior officials of both countries.
Deputy Minister of Finance Cao Anh Tuan has led a delegation from Vietnam’s Ministry of Finance to meet with Robert Kaproth, U.S. Deputy Assistant Secretary for International Finance at the U.S. Department of the Treasury, reported the Vietnam News Agency.
At the meeting, Tuan emphasized the complementary nature of the two economies. He said Vietnam has growing demand for what America is strong in, such as high-tech products, energy, aviation, machinery, and agricultural goods. Meanwhile, Vietnam’s consumer products offer affordable, diversified options to U.S. consumers and do not compete directly with domestic U.S. manufacturing.
Tuan called on the U.S. Treasury to support Vietnam’s access to high-tech imports and facilitate technology transfer, aiming to promote sustainable and mutually beneficial trade and investment. He also stressed the importance of helping Vietnamese firms integrate more deeply into U.S. supply chains.
In response, Kaproth acknowledged Vietnam’s recent efforts to enhance trade transparency and reaffirmed the U.S. commitment to addressing bilateral economic and financial issues. While trade negotiations fall under the purview of the Office of the United States Trade Representative (USTR), Kaproth said the Treasury remains closely involved in the overall process.
He reiterated U.S. concerns about the growing trade imbalance, calling it unsustainable, and highlighted the need to prevent trade circumvention and origin fraud. Kaproth also urged stronger customs enforcement to tackle illegal transshipment and unfair trade practices.
Tuan said Vietnam is actively enhancing its inspection and customs controls to ensure fair trade and is willing to coordinate further with U.S. authorities on related matters.
Both sides agreed that now is a suitable time to expand bilateral cooperation through policy dialogues, technical assistance programs, and expert forums, especially as the two countries mark 30 years of diplomatic relations and strengthen their comprehensive strategic partnership.
In a separate meeting, Deputy Minister Tuan met with James Burrows, Vice President of the Export-Import Bank of the U.S. (EXIM), along with representatives from major Vietnamese enterprises, including the Vietnam National Industry-Energy Group and Vietnam Maritime Corporation.
During the meeting, both parties affirmed the role of EXIM in providing financial support for Vietnamese companies investing and operating in the U.S. and Vietnam. Burrows said the bank has a lending capacity exceeding US$135 billion and is prioritizing sectors such as green energy, LNG, oil and gas, and critical minerals, aiming to support U.S. exports and promote balanced trade.
