HANOI: Vietnam and the US have nearly completed negotiations covering a trade deal, Vietnamese Deputy Prime Minister Pham Gia Tuc said on Wednesday (Oct 14) at an event in Hanoi, though US officials appeared more cautious.
Vietnam has sent the final text of the agreement to the US, Tuc said at a business forum in Hanoi.
„We expect the US to continue to create favourable conditions for Vietnamese goods to access the US market in a stable and sustainable manner,“ Tuc said.
Tuc also said Vietnam expects the US to make an objective and balanced assessment in its Section 301 investigation into issues including industrial overcapacity and intellectual property rights in Vietnam.
Jennifer Wicks, the US ambassador to Vietnam, said at the event that „our governments continue to negotiate an agreement on reciprocal trade.“
She urged Vietnam to adapt its regulatory framework on data protection to attract investment and allow businesses to deploy new technologies efficiently.
US tech companies have repeatedly warned that Vietnam’s strict limits on cross-border data transfers discourage investment in the country.
Wicks also urged Vietnam to develop predictable policies and stable rules on pricing to favour foreign investment in its expanding energy sector.