During their talks at the Cabinet Room following a 15-minute private meeting, President Trump welcomed the official visit to the US by PM Phúc and the high-ranking Vietnamese delegation, affirming that he attached importance to Việt Nam-US relations as well as the role of Vietnam and ASEAN in the region.
He said he wanted the two countries’ ties to continue developing strongly in the time ahead.
The Vietnamese Prime Minister acknowledged the warm welcome of President Trump and the US administration, stressing that Việt Nam treasured its comprehensive partnership with the US and highly valued recent steps taken by the Trump administration to implement the policy towards the Asia-Pacific region.
The two leaders noted with satisfaction the extensive development of the Việt Nam-US comprehensive partnership in various spheres, both bilaterally and multilaterally, and shared the view that there remain a number of opportunities for bilateral ties.
They affirmed the commitment to maintaining efforts to boost Vietnam-US relations in a stable, long-term, constructive and mutually beneficial fashion, which would not only benefit the two countries but also peace, stability, cooperation and development in the Asia-Pacific region and the world, on the basis of compliance with the UN Charter and international law, respect for each other’s independence, sovereignty, territorial integrity and political regime.
Regarding ways to enhance the countries’ connections, they agreed to increase delegation exchanges and meetings, especially at high level, improve the effectiveness of existing cooperation mechanisms, and consider the establishment of new cooperation mechanisms that suit the expansion of bilateral ties in the new period.
The two leaders agreed to join efforts to boost win-win economic partnership. They emphasised that development cooperation remains a focus in the economic-trade relations between Việt Nam and the US.
PM Phúc affirmed Việt Nam’s resolve to press on with economic restructuring and integration into the world, and stepping up the two countries’ win-win cooperation in economy, trade and investment. He asked both sides consider the formation of a value chain from production to consumption to make use of the two economies’ complementary feature.
President Trump welcomed the settlement of some prioritised trade issues, including the opening of their markets for each other’s agricultural and industrial products and information technology products and services.
The two leaders were unanimous in effectively carrying out the Trade and Investment Framework Agreement to deal with bilateral economic problems in a constructive and fair spirit and to satisfy each side’s legitimate interests.
They also agreed to strengthen cooperation in other bilateral aspects such as humanitarian aid, war consequences settlement, people-to-people exchanges, science-technology, education-training, health care, and defence-security.
They affirmed that Việt Nam and the US share common interests in the Asia-Pacific, including the maintenance of peace, stability, cooperation and development in the region.
The Vietnamese leader welcomed the US’s continued participation in and actively contribution to the building of regional security and economic structures. He assured that Việt Nam would continue to work closely with the US, including in the upcoming APEC meetings and the East Asia Summit.
The US President noted his country continued to support ASEAN’s central role and promote the US-ASEAN strategic partnership. He said it would also support Việt Nam to successfully organise APEC activities in 2017, adding that he looked forwards to his visit to Vietnam in November to attend the APEC Economic Leaders’ Meeting.
Additionally, the two leaders underlined the importance of the freedom of navigation in and overflight over the East Sea, affirming their support for the peaceful settlement of disputes on the basis of international law, including the full respect for diplomatic and legal processes. They applauded the progress of negotiations on an effective and meaningful Code of Conduct in the East Sea (COC).
They said they supported denuclearisation in the Korean Peninsula and asked all parties concerned to seriously implement relevant resolutions of the UN Security Council.
At the talks, PM Phúc, on behalf of the leaders of the Vietnamese Party and State, invited President Trump and his spouse and family to pay an official visit to Việt Nam and attend the APEC Economic Leaders’ Meeting this year. President Trump accepted the invitation.
Prior to the talks, PM Phúc and President Trump hosted a meeting with the press. The two sides issued a joint statement on Việt Nam-US relations after the talks.
Meeting with US Secretary of Commerce
Prime Minister Phúc received Secretary of the US Department of Commerce (DOC) Wilbur Ross in Washington DC on May 31 (local time), asking the department to recognise Việt Nam’s market economy status soon.
During the reception, he highly valued considerable growth in the Việt Nam-US trade ties over the past 20 years, affirming the country’s strict implementation of commitments in their bilateral trade agreement as well as within the World Trade Organisation.
He highlighted the potential for bilateral trade development as the two countries have complementary economies. Việt Nam imports high-tech goods and services from the US as well as input materials for its export-products to the American nation.
The PM also proposed the DOC to have objective assessments to reflect the nature of the trade deficit between the two countries while settling trade issues based on the Trade and Investment Framework Agreement (TIFA) as well as World Trade Organisation regulations.
He hoped the US side would create conditions for Việt Nam’s farm produce including fruits and seafood to access the US market.
Secretary Ross, for his part, affirmed the need to increase bilateral trade on the basis of balance and mutual benefit as a common goal, while stressing his support for the comprehensive and stronger development of bilateral ties.
He agreed that the two sides needed to restart the mechanism of discussing the market status for Việt Nam.
The DOC would work with Việt Nam’s Ministry of Trade and Industry to discuss issues in bilateral trade, and talk technical matters with relevant Vietnamese agencies, promoting trade ties between the two countries.
Following the reception, PM Phúc and Secretary Ross witnessed the exchange of some trade and investment cooperation documents signed by the two sides’ enterprises during the Vietnamese leader’s US visit from May 29-31.
The same day, Prime Minister Phúc received leaders of some major economic groups, including ASG, McKinsey, Boeing, General Electrics, and Murphy Oil. He spoke highly of the effectiveness of US firms’ projects in Việt Nam, affirming the Vietnamese Government encourages US businesses to increase investment in the country.
He pledged to continue improving investment and business climate to create more favourable conditions for foreign enterprises, including those from the US, to do business with Việt Nam.
US firm supported the resolve and solutions the Vietnamese Government had implemented in recent times to create a healthy investment and business environment and a fair playground for foreign businesses. They affirmed to continue expanding cooperation and increasing investment in Việt Nam.