What role did the US play in the decision to grant Vietnam 'market economy’ status? – Ambassador

The most anticipated event in Vietnam-US relations this year is the US granting market economy status to Vietnam. On July 26, the US Department of Commerce (DOC) will decide whether Vietnam meets the criteria for conversion. This comes after the two countries upgraded their relationship from a comprehensive partnership to a comprehensive strategic partnership (CSP) during President Joe Biden’s visit to Hanoi in September last year.

This dramatic development in relations between the two former adversaries has prompted curious observers to ask what accounts for the rapid development of Vietnam-US relations in recent years. The answer is obvious to almost everyone hope. Now that the two countries have established a CSP, the question of what will be the foundation for Vietnam-US relations – the answer is one: trust.

Indeed, trust – and the lack thereof – has always been a key factor in Vietnam-US relations. It alternately acts as a driving force and hindrance to relationships. It stems from the history of the two countries, the differences in their political systems and the differing understandings of the objectives and national interests pursued by the two countries in their bilateral relationship. Trust is critical given the asymmetric relationship between Vietnam as a small, underdeveloped country and a former war-torn country. However, how does that trust, an intangible variable, measure up in the relationship between the two countries?

The Joint Statement The two countries issued in September reaffirmed the US commitment to „a broader, strengthened, supportive and constructive engagement with Vietnam towards its market economy and subsequent transition to market economy country status under US law”. Shortly before Biden arrived in Hanoi, Vietnam officially requested The United States is reviewing its market economy position.

A joint statement says that „U.S. will review Vietnam’s request as expeditiously as possible, in accordance with U.S. law.”

The Biden administration appears to have made good on this promise. A month after the CSP was upgraded, the U.S initiated A process of reviewing Vietnam’s market economy status. On May 8, D.O.C Investigated Action on whether to improve Vietnam welcomed By Hanoi. The Vietnamese side is actively arguing for this. In recent months, including high-ranking Vietnamese officials PresidentThe Prime Minister And this Foreign Minister, have taken advantage of meetings and interactions with US politicians and officials to call for early recognition of Vietnam as a market economy. During a meeting with Prime Minister Bam Min Chin last September, the US National Security Adviser Jack Sullivan He said he would urge the US to grant status to Vietnam as soon as possible.

Notably, in March, during a reception for business delegations from the US-ASEAN Trade Council, the then head of Vietnam’s National Assembly, Wong Tin HueHe directly stated that the US’s early recognition of market economy status for Vietnam would be seen as evidence of growing trust between the two countries.

Vietnam’s top leadership change in the first few months of the year is a direct result of the Communist Party of Vietnam’s anti-corruption campaign, including Hanoi’s red-carpet welcome to Russian President Vladimir Putin on June 19-20. That seems to have caused some concern among foreign investors and governments. However, after Putin’s visit, speaking to reporters in Hanoi during a brief two-day visit on June 21-22, the US Assistant Secretary for East Asian and Pacific Affairs Daniel CrittenbrinkThe former US ambassador to Vietnam said trust between the two countries had never been higher.

This is often true: two-way conversations are more open, transparent and honest; Communications and delegation exchanges occur frequently; And Vietnam is an increasingly attractive and reliable destination for American companies and investors. In the past two years, many high-level company representatives have come to Vietnam to seek investment cooperation opportunities. For example, last year, a delegation of nearly 60 major American businesses visited Vietnam.

During his stay in Hanoi, Biden and Chin attended Vietnam-US High Level Conference on Investment and Innovation. Many leaders, such as Jensen Huang, chairman and CEO of major US technology companies NvidiaIt has already invested $250 million and plans to install it Chip manufacturing center in Vietnam, and Tim Cook, CEO AppleThe company, which has invested $16 billion in Vietnam to date, has moved into the country in the past year.

On the opposite side, several Vietnamese companies planned to invest in the US last month. Over 70 Vietnamese companies attended the SelectUSA Investment Summit in Maryland to explore investing in the United States in various sectors including software, information technology and logistics.

Of course, there are many Concerns From the American side on the economic situation in Vietnam. However, Vietnamese economists and officials will figure it out Difficult to understand If the US does not recognize Vietnam as a market economy this year, based on their belief that Vietnam Already A market economy. Vietnam has made policy changes to meet DOC’s legal criteria A previous study In 2002. Until today, more than 70 countries have granted market economy status to Vietnam, including US allies such as Canada, Japan, the United Kingdom, and Australia. Some influential voices consider the strategic relationship between the two countries and the actual functioning of Vietnam’s economy have recommended It is time for the United States to „graduate Vietnam from its non-market economic status.”

Inevitably differences Vietnam-US relations, including human rights. However, the strategic interests of both countries should not be affected by these differences. Vietnam-US relations have come a long way, and it is very difficult for both countries to achieve the current prospects for their relationship, built on a foundation of trust established over three decades. Also, remaining American concerns about improving Vietnam’s economic status must be based on facts. Local protectionism. A strong, independent and self-reliant Vietnam should not have US support, and this is consistent with US strategic interests in the Indo-Pacific region.

Trust in Vietnam’s relations with key countries, whoever they may be, is fundamental and must be confirmed through concrete actions and concrete decisions. The ambassador to Vietnam spoke at the Center for Strategic and International Studies, a Washington-based think tank. Nguyen Quoc Dzung He did not hide his disappointment when he said that if the DOC rejected Vietnam’s market economy status, „it would be very, very bad for both countries.” Confidence is expected to increase in Vietnam-US relations, while the two countries will be after a diplomatic upgrade over the past year.