Reciprocal Duties: Second Round Of Vietnam - US Negotiations Opens New Opportunities

The second negotiation session on reciprocal duties under the Bilateral Trade Agreement between Vietnam and the United States took place in the US from May 19 to 22, 2025. The Vietnamese negotiating delegation, led by Minister of Industry and Trade Nguyen Hong Dien, participated alongside representatives from various relevant ministries and sectors.

On the first day of negotiations (May 19, local time), both sides discussed a comprehensive approach to address fundamental issues of mutual concern and accelerate the negotiation process. The exchange was open, frank, and constructive, focusing on clarifying the wording of the Agreement and providing each other with information on current policies to lay the groundwork for subsequent work.

Vietnam Relaunches Nuclear Power Program: Cooperation Opportunities With Westinghouse

During his business trip, Minister Nguyen Hong Dien also had an important meeting with Westinghouse Corporation, a world leader in nuclear power technology. Minister Dien shared that Vietnam intends to relaunch its nuclear power program to ensure energy security amidst rising electricity demand and the current instability of renewable energy.

Minister Nguyen Hong Dien emphasized that Vietnam will adopt a cautious, modern, and practical approach, affirming that Vietnam has many potential sites for nuclear power development. This forms a basis for promoting cooperation with international partners like Westinghouse, including both large-scale and small modular reactor (SMR) projects. The Minister affirmed that energy cooperation will also be a significant driver in balancing the bilateral trade balance.

Ms. Margaret Cosentino, Vice President of Westinghouse, expressed strong support for Vietnam’s plan and highlighted the importance of long-term energy cooperation. Both sides agreed to share information, moving towards signing a Memorandum of Understanding (MOU) between Westinghouse and the Vietnam Oil and Gas Group (Petrovietnam) in nuclear power development. Cooperation will be strongly promoted in key areas such as developing energy infrastructure investment models (PPP, BOT), technology transfer, and training and developing technical human resources for the nuclear power sector.

Positive Preliminary Results After Ministerial-Level Meeting

Earlier, in Jeju, South Korea, immediately after the conclusion of the 31st APEC Ministers Responsible for Trade Meeting (MRT 31), Minister Nguyen Hong Dien held a direct ministerial-level negotiation session with US Trade Representative (USTR) Jamieson Greer, as previously scheduled.

USTR Jamieson Greer acknowledged and highly appreciated Vietnam’s goodwill and proactive preparation for the negotiations, largely agreeing with Vietnam’s approach and proposals. He expressed hope that, with efforts from both sides, the technical-level negotiations in the coming days would achieve positive results, bringing practical benefits to the people and business communities of both countries, and contributing to the stability and sustainable development of bilateral trade relations and the comprehensive strategic partnership between the two nations.

The two Ministers reached a high level of consensus on principles, approaches, content orientations, and negotiation plans, laying the foundation for effective subsequent negotiation sessions.