Minister Dung, it is my pleasure to welcome you to Washington for this first Comprehensive Strategic Partnership Economic Dialogue between the United States and Vietnam. I am also pleased to repay your hospitality for hosting me in Hanoi earlier this year.
Joining me today are Ambassador Mark Napper and leaders from our various bureaus, including Deputy Assistant Secretary Melissa Brown from the Bureau of East Asian and Pacific Affairs, Deputy Assistant Secretary Lecile Franz from the Bureau of Cyberspace and Digital Policy, Deputy Assistant Secretary Robert Garverick from the Bureau of Economic and Business Affairs, Acting Deputy Assistant Secretary Paul Hueper from the Bureau of Energy Resources, and USAID Deputy Assistant Administrator for East Asia and the Pacific Sarah Borodin.
The issues we will discuss today range from critical minerals, clean energy and semiconductors to investment promotion, reflecting the central role of economic cooperation in our new Comprehensive Strategic Partnership, or CSP.
Our rapidly growing economic ties reflect the promise of the CSP and were the driving force behind our joint decision to elevate our partnership to the highest level last year. The relationship between Vietnam and the United States is stronger than ever, and there is no clearer sign of this than our economic cooperation.
It is also remarkable how far we have come in such a short time, and how trade and investment have led the way in rebuilding the relationship between our two countries. In just 30 years since trade restrictions were lifted in 1994, our two-way trade has grown from almost zero to $124 billion, making Vietnam our ninth largest trading partner in terms of goods. I am proud to say that in such a short time we have far surpassed some of your traditional trading partners, which is a sign of our commitment to Vietnam, the economic benefits we offer each other, and our shared trust.
This partnership is also constantly evolving. CSP includes areas that will benefit us both, from developing new supply chains for key technologies such as semiconductors to developing important new sources of critical minerals. This focus on emerging and advanced technologies shows that we are looking at the future drivers of economic growth, and we see each other as part of that trend.
Recognizing Vietnam’s great potential, U.S. companies are equally excited about investing in Vietnam. Today, we will discuss ways to facilitate this investment and ensure that Vietnam takes full advantage of this interest. While investors are excited about Vietnam, we want to ensure that they have the regulatory and decision-making environment they need to expand in your country.
I emphasize that the United States is committed to our economic relationship. The United States recognizes the centrality of our relationship and the rapid growth of economic ties between us. There is no greater evidence of this than the CSP.
Minister Sir, we are waiting for your views before we begin the discussion.
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