Vietnam-US bilateral trade soars 300-fold since normalization of ties

Vietnam-US bilateral trade soars 300-fold since normalization of ties

🕊️📈 Close to 30 years has passed since Vietnam and the U.S. normalized ties, their two-way trade rose over 300-fold to US$138 billion in 2022 from $450 million in 1995.

📞 In March this year, the phone talks between General Secretary of Vietnam’s Communist Party Nguyen Phu Trong and U.S. President Joe Biden served as a key milestone for the Vietnam-U.S. ties in 2023, which also marks a decade since the two countries established their comprehensive partnership.

🤝🏼 The Biden administration’s stance reflected the U.S. commitment to tightening the Vietnam-U.S. relations while showing its respect for Vietnam’s pursuit of a foreign policy of independence, self-reliance, peace, friendship, cooperation, development, multilateralization, and diversification.

❗The U.S. also affirmed the vital role of Vietnam in the former’s Indo-Pacific Strategy, endorsing ASEAN Centrality as well as ASEAN Outlook on the Indo-Pacific.

🎯 Just recently, 52 businesses from the U.S. came to Vietnam in March this year to seek business and investment opportunities. The U.S. enterprises discovered substantial opportunities for investment and doing business in Vietnam.

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