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Vietnam Looks for Trade Dear with US

time2017/03/16

Vietnam is seeking a trade deal with the United States to replace the Trans-Pacific Partnership (TPP) free trade agreement.

    Official media in Vietnam say Prime Minister Nguyen Xuan Phuc spoke to a delegation of American business people last week.

    He told the that he was ready to visit the United States.

    He added that he hopes to meet President Donald Trump for talks on trade and other issues.

    Some observers say Prime Minister Nguyen has a good chance to reach a trade deal with the U.S.American companies looking for markets .Rahul Bajoria is an economist with the bank Barclays in Singapore.

    He says Vietnam hopes to increase exports to the U.S. with a trade deal.But he suggests that U.S. companies are also seeking access to Vietnam's markets.

    "It could be the case there might be some pressure from the large(American)industrial manufacturers like the aircraft manufacturers or train companies.All of them may be much interested in exporting to Vietnam,"Bajoria said.

    As much as nineteen percent of Vietnam's $200 billion in economic activity comes from export.Last year,the southeast Asian nation exported $38 billion in goods to the U.S. and imported almost $9 billion in goods in return.

    Vietnam's imports,however,increased by more than 14 percent in January with popular American products from Apple and Dell.

    Could more two-party trade deals be possible?

    After the U.S. presidential election,Vietnamese Prime Minister Nguyen spoke to Trump by telephone.Trump told Nguyen that he wanted to strengthen ties with Vietnam and that he was willing to meet in the United States.