Vietnam seeks US's market economy recognition

Vietnamese Prime Minister Pham Minh Chinh has called on the United States to recognize Vietnam as a market economy, remove the country from strategic export control lists, and increase technology transfer to deepen bilateral cooperation.

The proposals were made during a meeting in Hanoi on Wednesday with a delegation from the U.S. Congress's U.S.-China Economic and Security Review Commission (USCC), led by Chair Reva Price.

Welcoming the delegation's visit - which coincides with the 30th anniversary of Vietnam-U.S. diplomatic ties and the 50th anniversary of Vietnam's reunification - PM Chinh reaffirmed Vietnam's commitment to building an independent, self-reliant economy that actively integrates into the global market in a substantive and effective way.

He urged the U.S. to formally recognize Vietnam's status as a market economy and to remove it from the D1 and D3 strategic export control lists. The D1 list concerns national security, while the D3 list involves chemical and biological controls.

Chinh also called for enhanced U.S. support in technology transfer to promote balanced and sustainable trade, investment, and economic cooperation between the two countries.

   Defense, diplomacy, and shared values

On defense and security, the PM emphasized Vietnam's consistent foreign policy: independence, self-reliance, multilateralism, and openness.

He reiterated the country's 'Four No's' defense policy - no military alliances, no siding with one country against another, no foreign military bases in Vietnamese territory or allowing Vietnam to be used as leverage against other countries, and no use or threat of force in international relations.

Chinh welcomed continued U.S. efforts to help address war legacy issues in Vietnam and expressed appreciation for the U.S. administration and the congress's long-standing support for a strong, independent, resilient, and prosperous Vietnam.

He encouraged Chair Price and other USCC members to further advocate for deeper bilateral ties.

   Trade and tariff negotiations

Addressing trade issues, Chinh confirmed Vietnam's readiness to negotiate with the U.S. to create mutual benefits for citizens and businesses.

He described the ongoing negotiations as a strategic opportunity to restructure the Vietnamese economy, diversify markets and supply chains, and strengthen Vietnam's position in the global economy.

The talks follow the U.S.'s recent decision to impose a 46-percent reciprocal tariff on Vietnamese imports. Initially set to take effect on April 9, the measure has been delayed for 90 days to allow time for negotiations.

   Regional stability and maritime security

On regional matters, Chinh reiterated Vietnam's position on resolving East Vietnam Sea disputes through peaceful means in accordance with international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

He called on the U.S. to continue supporting ASEAN's unified stance on the issue and to back efforts to settle disputes lawfully and peacefully.

Chair Reva Price expressed her appreciation for the meeting and said she was impressed by Vietnam's rapid development during her first visit to the country.

She agreed with the Prime Minister's proposals and reaffirmed that Vietnam is a key partner for the U.S. in the region.

Price pledged to support the recognition of Vietnam as a market economy and to continue advocating for progress in bilateral tariff negotiations.

Vinh Tho - Duy Linh / Tuoi Tre News

(2025/05/08-18:21)