U.S. Treasury Secretary Janet L. Yellen Commends Vietnam’s Economic Growth and Cooperation

U.S. Treasury Secretary Janet L. Yellen met with Governor of the State Bank of Vietnam, Nguyen Thi Hong, in Hanoi today to discuss bilateral economic and financial matters. This meeting marks a significant step forward in the close cooperation between the United States and Vietnam, following their first videoconference two years ago.

Secretary Yellen expressed her gratitude to Governor Hong for hosting the meeting and highlighted the strong collaboration between the two institutions in addressing U.S. concerns over Vietnam’s currency practices. Over the 28 years since the normalization of relations, the bilateral relationship between the United States and Vietnam has deepened and broadened, with a focus on fostering economic growth and transformation.

Vietnam has emerged as a vital economic partner for the United States, with two-way trade reaching record highs last year. The United States has become Vietnam’s largest export market, contributing to Vietnam’s economic prosperity. Secretary Yellen expressed her support for Vietnam’s ongoing growth and transformation, recognizing the benefits it brings to both Vietnamese and American citizens.

During the meeting, the officials discussed various ways to further strengthen cooperation between the U.S. Treasury and the State Bank of Vietnam, extending beyond currency practices to encompass a broader range of economic and financial issues. The goal is to foster a more robust and mutually beneficial economic partnership.

Both parties expressed optimism about the potential for deeper collaboration and understanding moving forward. Secretary Yellen’s visit to Vietnam reaffirms the United States’ commitment to building stronger ties with one of its key economic partners in the region.

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