US Treasury Secretary calls for increased ODA for Vietnam

The US should increase Official Development Assistance (ODA) to Vietnam and step up other financial support in the form of preferential loans and humanitarian and development assistance. 

US Secretary of the Treasury Jack Lew made the statement at a reception for Deputy Prime Minister Vu Van Ninh who is on a working visit to the US from September 15-19 aiming to boost the Trans Pacific Partnership (TPP) negotiations.

At the reception, the Deputy PM spoke highly of US support for Vietnam in the field of anti-money laundering in recent times, adding there should be further technical support to staff who have directly implemented these activities.

Mr Lew agreed with the Deputy PM’s request and expressed his wish that Vietnam pay special attention to proposals made by US businesses operating in Vietnam.

At the reception for the US Trade Representative Michael Froman, Deputy Prime Minister Vu Van Ninh expressed his desire that the US attach importance to reducing tariffs on garments and textiles in the process of TPP negotiations.

Ninh also asked the US to recognise Vietnam’s market economy status right after the TPP negotiations are concluded.

Vietnam highlighted the importance of intellectual property, saying the US should adopt an effective approach to conclude the TPP negotiations soon.

Vietnam will actively co-ordinate with the US and other nations to find suitable solutions to concerned parties. Deputy PM also requested the US to come up with the formulation of technical support programmes to implement TPP’s commitments.

US Trade Representative Froman pledged to facilitate the adoption of a proper approach to the Vietnamese garment, textile and footwear products.

Mr Froman asked Vietnam to create the best favourable conditions to facilitate the penetration of US meat and poultry and vowed to provide technical assistance to Vietnam to implement the TPP right after it is signed.

While talking to the US Secretary of Commerce Penny Pritzker, both sides shared information on bilateral trade and the implementation of major US trade projects in Vietnam. He voiced determination to open a direct air route between Vietnam and the US in 2015 as schedule.

Both sides agreed to further accelerate bilateral trade apart from speeding up the TPP negotiations.

At the meeting with Professor Jeffrey Schott, deputy PM emphasised the important role of the Peterson Institute for International Economics and the Professor in conducting studies on international economic issues and applauded recent cooperation between the institute and some Vietnamese relevant agencies.

The Deputy PM said that experts’ advice and information from of the institute have helped Vietnam’s agencies to adopt a clear approach to deal with the current international economic issues.

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