Vietnamese Corporations Strengthen Trade Relations with the US: Key Highlights from the MOIT-Led Meeting

As Vietnam–US economic relations deepen, leading Vietnamese enterprises are proactively accelerating the implementation of trade agreements signed with American partners. A recent high-level working session chaired by the Ministry of Industry and Trade (MOIT) on May 7 marked a key milestone in promoting bilateral cooperation, especially in strategic sectors such as energy, aviation, technology, and logistics.

 Key Highlights from the Meeting Led by the Ministry of Industry and Trade

1. Major Vietnamese Corporations Accelerate Business Partnerships with the US

Top Vietnamese state-owned and private corporations—EVN, TKV, Vietnam Airlines, THACO, Viettel, VNPT, PVN, Petrolimex, PV Gas, Vietjet, and the Vietnam National Chemical Group—have pledged to expedite the implementation of existing trade agreements and memoranda of understanding with US partners.

From now until June 2025, these companies will intensify business meetings and negotiations with American counterparts to translate written commitments into tangible collaboration, further elevating the Vietnam–US economic partnership.

2. MOIT Leads Dialogue to Promote Bilateral Trade

On May 7, Minister of Industry and Trade Nguyen Hong Dien chaired a meeting with more than 10 leading Vietnamese enterprises to review the progress of trade deals signed with US entities.

During the session, companies reported on contract implementation and expressed strong interest in importing strategic US products and services, including industrial machinery, high-tech equipment, energy systems, and digital solutions.

3. Vietnam’s Strong and Growing Demand for US Imports

In recent years, Vietnam has emerged as one of the largest importers of American goods in the region, with annual trade values in the billions of USD. Key imports include:

• Aircraft, engines, and aviation support equipment

• Gas turbines for power plants

• Power transmission systems and heavy industrial machinery

• GPU chips and high-tech components

• Strategic raw materials and fuels

Looking ahead to 2025, Vietnam’s demand for US imports is expected to rise further as the country accelerates its digital transformation, advances renewable energy, and modernizes industrial infrastructure.

4. Promoting a Balanced and Sustainable Trade Relationship

Minister Nguyen Hong Dien emphasized that while Vietnam–US trade has grown rapidly, it still falls short of its full potential.

He urged both sides to address technical trade barriers, enhance policy dialogue, improve administrative transparency, and facilitate smoother business engagement. The ultimate goal is to move toward a more balanced, stable, and mutually beneficial trade relationship.

Takeaway

• Vietnamese enterprises are playing an increasingly active role in expanding economic ties with the US, particularly in energy, technology, and logistics.

• The US remains a key supplier of high-value industrial equipment, high-tech products, and critical raw materials, aligning with Vietnam’s development goals through 2025.

• The Ministry of Industry and Trade serves as a vital intermediary in policy coordination, enterprise support, and bilateral dialogue facilitation.

• As the need for speed, transparency, and compliance grows, businesses must proactively assess internal capabilities to meet international commitments effectively.

• Achieving a balanced trade framework is not only a national strategy but also a long-term opportunity for Vietnam’s leading corporations to integrate deeper into global value chains.

Source: doanhnghiepvn.vn