At the working session (Photo: VNA)

Both sides underscored the need for broader and deeper cooperation between the management agencies of the two countries, and between the Vietnamese Ministry of Industry and Trade (MoIT) and the US Department of Commerce (DOC) in particular, in order to actualize the vision of the two countries' leaders and to set development goals that match the bilateral comprehensive strategic partnership.

Reiterating the importance of the recognition of Vietnam's market economy status, Minister Dien suggested the DOC expedite and complete the Changed Circumstances Review (CCR) process this year, in line with the spirit of the Joint Statement on September 11, 2023 and the Action Plan agreed by the two countries’ leaders.

Minister Dien affirmed Vietnam's desire to promote economic, trade, and investment relations with the US in a comprehensive and sustainable manner. The MoIT, in its role as the Chair of the Vietnam Sub-Committee on Trade and Investment of the Vietnam-US Trade and Investment Framework Agreement (TIFA) Council, pledges to continue actively working with relevant US regulatory agencies to fully address the concerns of both countries, thereby maintaining a stable trade relationship toward a balanced, sustainable, and mutually beneficial trade, he said.

Raimondo acknowledged that Vietnam has formally asked the DOC to initiate a CCR to consider granting market economy status within the framework of specific cases. She said there will be direct guidance to expedite the review process toward the early recognition of Vietnam's market economy.

At the end of the working session, both ministers agreed that the two sides should keep fostering strategic trust, enhance discussions, and deepen cooperation in core areas for the future such as energy, aviation, rare earth and essential minerals, workforce training, energy transition, the digital economy, and green production. They also promised to find ways to deliver on commitments made by their leaders.