Vietnam and the US have entered a new chapter in their bilateral relationship as they mark 30 years of diplomatic ties (July 7, 1995–2025), with economic cooperation accelerating since the establishment of the Comprehensive Strategic Partnership in 2023.

Two-way trade is now on track to hit the 200 billion USD milestone in the near future, reflecting the growing depth and dynamism of the partnership.

Trade experts note that since the signing of the Bilateral Trade Agreement (BTA) in 2000, Vietnam’s export structure to the US has significantly evolved. Initially dominated by light industrial goods such as garments and footwear, Vietnam’s export portfolio now includes a broader range of goods of the processing – manufacturing industry, as well as agro-forestry-fishery products with increasing value added.

On the import side, Vietnam sources primarily high-tech and high-value-added industrial goods from the US, including computers, electronic components, and machinery. This complementary trade pattern reflects the mutually supportive nature of the two economies. While Vietnam meets US demand for agricultural and labour-intensive products, the US supplies Vietnam with essential raw materials for production such as cotton, soybeans, animal feed, chemicals, and equipment, fueling the country’s export-driven growth.

Experts also highlight that importing key production inputs from the US enhances supply chain transparency and traceability for Vietnamese industries.

During a recent working trip to the US, Minister of Industry and Trade Nguyen Hong Dien, acting as the Prime Minister’s Special Envoy, held meetings with the Office of the United States Trade Representative (USTR), the Department of Energy (DOE), and other agencies. He also witnessed the signing of cooperation agreements and procurement contracts between Vietnamese and American businesses, covering machinery, raw materials, services, and more.

Minister Dien emphasised that over the past 30 years, particularly the last decade of the Comprehensive Partnership and nearly two years of the Comprehensive Strategic Partnership, the two countries have made solid progress across various fields. Economic, trade, and investment collaboration remains the key driver of the bilateral relationship.

On investment, the US remains a key market for Vietnamese firms aiming to expand trade links with. At the same time, Vietnam continues to attract high-tech investments from the US, especially in the semiconductor and microchip sector. Vietnam is also playing a growing role in the US’s global supply chains, while American businesses have contributed significantly to Vietnam’s economic transformation and development.

Expanding trade cooperation

In June 2025, a batch of fresh lychees from Bac Giang province (now part of Bac Ninh province) was successfully air-shipped to Houston by importers L&V Food Supply and CT Choice — a milestone in efforts to bring premium Vietnamese products to American consumers.

The Vietnam Trade Office's branch in Houston has been actively supporting Vietnamese exporters through consulting, partner matching, and trade promotion. It has also facilitated business delegations, helping US companies explore trade opportunities in Vietnam.

Also in June, the Vietnamese Consulate General and the Trade Office in Houston held meetings with major US companies, trade associations, and chambers of commerce in the southern US, while continuing to assist Truong Hai Group Corporation (THACO) in introducing its products and hosting American firms at its Chu Lai Industrial Park in central Vietnam.

Besides, US companies like Apple, Nike and hundreds of others continue to choose Vietnam as an investment destination due to its market potential and opportunities. Experts believe that if Vietnam maintains a transparent, fair, predictable, and innovation-friendly environment, it will attract even greater American investment.

US Ambassador to Vietnam Marc E. Knapper emphasised that 2025, marking the 30th anniversary of bilateral diplomatic ties, is a pivotal year for elevating bilateral cooperation to a new height, with economic and trade collaboration remaining the key driver.

Minister Dien affirmed that the complementarity between the two economies is essential for building strong, harmonious, and sustainable economic – trade links. He reiterated Vietnam’s view of the US as a partner of leading importance and expressed hope for further expanding trade and investment connections in a comprehensive and sustainable manner, helping reinforce mutual understanding and strategic trust./.
 
Source: en.vietnamplus.vn/vietnam-us-economic-ties-thrive-as-bilateral-relations-enter-new-chapter-post322404.vnp