U.S. Treasury Secretary Janet L. Yellen will embark on a trip to Gandhinagar, India, and Hanoi, Vietnam, from July 13-21. The visit will include participation in the G20 Finance Ministers and Central Bank Governors meetings as well as bilateral engagements in both countries.
At the G20 meetings, Secretary Yellen will continue to advocate for the evolution of multilateral development banks to effectively address global challenges and support core development goals. In India, the focus will be on promoting debt sustainability to strengthen the global economy, considering that more than half of low-income countries are currently at high risk of debt distress.
Secretary Yellen’s visit to India also aims to deepen the bilateral relationship between the United States and India. Recognizing India as an indispensable partner, she will utilize her presence at the G20 in Gandhinagar to strengthen the already significant ties between the two countries.
In Vietnam, Secretary Yellen will work on enhancing the bilateral economic relationship and promoting economic resilience. Over the past 28 years since the normalization of diplomatic relations, trade between the U.S. and Vietnam has experienced remarkable growth. Secretary Yellen will emphasize the importance of building secure and reliable supply chains, particularly through ‘friendshoring’ with trusted partners like Vietnam.
Climate change and clean energy transition will also be significant topics of discussion during Secretary Yellen’s visit to Hanoi. The Biden Administration is committed to taking action at home and abroad to address climate change, and Secretary Yellen will explore opportunities for collaboration with countries like Vietnam in powering a global clean energy transition.
Additionally, Secretary Yellen will address currency issues and underscore the mutual respect and friendship between the United States and Vietnam. She will acknowledge the constructive dialogue and progress made in addressing concerns about Vietnam’s currency practices, highlighting the collaboration between the two countries in enhancing financial and macroeconomic resilience.
Throughout the trip, Secretary Yellen will engage in various meetings, press conferences, and events to strengthen economic ties, discuss global challenges, and promote collaboration in key areas of mutual interest.
About the U.S. Department of the Treasury: The U.S. Department of the Treasury is responsible for promoting economic prosperity and ensuring the financial security of the United States.