U.S., Vietnam Business Communities Explore Options for Expanded Trade Ties | U.S. Chamber of Commerce

U.S., Vietnam Business Communities Explore Options for Expanded Trade Ties

Friday, May 19, 2017 - 3:00am

Hanoi, Vietnam — The U.S. Chamber of Commerce and the American Chamber of Commerce in Hanoi (AmCham), in cooperation with the Vietnam Chamber of Commerce and Industry (VCCI), today hosted a conference on the future of the Vietnam-U.S. commercial relationship. The conference, titled, “The United States and Vietnam in 2017 and Beyond”, brought together government and industry leaders from both countries to discuss ways to promote expanded trade and investment. The conference featured a keynote address by His Excellency President Tran Dai Quang.

“American companies are excited about opportunities in Vietnam, however they face a number of challenges in the country through market access restrictions and other barriers,” said Tami Overby, senior vice president for Asia of the U.S. Chamber. “We are working to find concrete ways to strengthen the bilateral trading relationship, including the possibility of a bilateral free trade agreement, in order to support economic growth in both countries. The conversations we’ve had here today are an important part of this process, and we look forward to building on them going forward.”

“We are confident that the upward growth trend of trade and investment relations between the U.S. and Vietnam will continue, and can strengthen. AmCham supports a path towards a U.S.-Vietnam free trade agreement which would help increase bilateral trade and investment, and which would create wealth and job opportunities for people in both countries,” said AmCham Executive Director Adam Sitkoff. “For a free trade agreement to move forward, it will need to be viewed as fair by all parties. The American business community in Vietnam stands ready to do our part to make this goal a reality.”

Speakers and panel participants discussed a wide range of issues, including innovations in healthcare, financial inclusion and financial market development, enabling growth of IT services, promoting innovation and the growth of small and medium enterprises, and improving market access through trade facilitation.

Founded in 1994, the American Chamber of Commerce’s mission is to increase trade and investment between the United States and Vietnam. AmCham supports the success of our members by promoting a healthy business environment in Vietnam, strengthening commercial ties, and providing high-quality business information and resources.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 70 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.