All smiles: Yellen shaking hands with Chinh in Hanoi. — AFP
The US considers building strong economic and security ties with Vietnam a priority, US Treasury Secretary Janet Yellen said yesterday as she met with Vietnamese officials in a visit aimed at fortifying the country’s relations across Asia.
Yellen arrived in Vietnam after visits to Beijing and to India, where she attended financial meetings of G20 countries.
“The United States considers Vietnam a key partner in advancing a free and open Indo-Pacific,” Yellen said when meeting with Vietnamese Prime Minister Pham Minh Chinh.
A “free and open Indo-Pacific” refers to the latest iteration of broad US diplomacy aimed at cultivating stronger ties with other countries.
“Vietnam is also a close economic partner, with our two-way trade reaching record highs last year and the United States serving as Vietnam’s largest export market,” she said.
“It is a priority for our administration to deepen our economic and security ties with Vietnam in the months and years to come.”
Speaking to a group of business women and economists, Yellen said she was encouraged by growing investments in Vietnam in industries including computer chips and renewable energy.
Her visit is part of continued US efforts to compete with China’s growing influence in the Indo-Pacific.
Earlier this year, Secretary of State Antony Blinken visited Vietnam weeks after the 50th anniversary of the US troop withdrawal that marked the end of the country’s direct military involvement in Vietnam and pledged to boost relations to new levels.
Diplomatic relations between the two countries were only restored in 1995.
Since then, bilateral trade has grown, reaching a high of US$138bil in goods trade last year.
China’s border is less than 96 km from Hanoi and Vietnam, like many of China’s neighbours, has had maritime and territorial disputes with Beijing in the South China Sea. But China is Vietnam’s biggest trading partner.
Yellen also met with the governor of Vietnam’s central bank, Nguyen Thi Hong, and announced a new economic policy dialogue between the State Bank of Vietnam and the US Treasury Department. — AP
