Vietnam - US Multifaceted Relationship Strengthened

Mr Daniel Russell, Assistant Secretary in charge of the Bureau of East Asian and Pacific Affairs, said that many important issues will be discussed during the US presidential visit. Economic cooperation is an important field. Vietnam is a member of the Trans-Pacific Partnership (TPP) and the US is committed to supporting Vietnam with the capabilities to implement this important treaty.

 

Expanding security cooperation is another important element of this visit, both in terms of international peacekeeping, regional humanitarian assistance, and disaster relief, but also importantly, maritime domain awareness and maritime security.

 

The visit also aims to strengthen people-to-people cooperation and exchange ties, including important youth exchange programmes through Young Southeast Asian Leaders Initiative (YSEALI), through the inauguration of Fulbright University of Vietnam, and other discussions with Vietnamese leaders on solutions to cope with regional and international challenges. Vietnam and the US are working together to address the effects of climate change and working together promote a rules-based order and address serious tensions in the East Sea and guarantee that the interests of the parties and international law are respected.

 

Particularly, the visit will advance the partnership in dealing with the legacy of the war, including the cooperation on removing unexploded ordnances (UXOs), in locating and returning the remains of US soldiers missing in action (MIA), and in remediating sites that were contaminated by dioxin, for example in Danang Airport. The two sides will discuss and work together to support and expand human rights and legal reforms in Vietnam. This is a consistent and important element in the bilateral relationship.

According to the United States Department of State, Secretary of State John Kerry will accompany the US President in official meetings with Vietnamese leaders to discuss ways of increasing cooperation in the framework of a comprehensive partnership between the two countries. Discussion contents cover a wide range of areas, from economic cooperation, people-to-people exchange, human rights and security to global and regional issues.

 

This is the first time President Obama visits Vietnam in his eight-year two-term presidency. He is the third US president to visit Vietnam.

 

In November 2000, President Bill Clinton became the first US President to visit Vietnam, 25 years after the war ended. The trip substantially changed US - Vietnam relations since the war was over. He also decided to lift the embargo on Vietnam, a move to normalise the bilateral relations in 1995 and signed the historic bilateral trade agreement (BTA).

 

The visit by President Bill Clinton created a historical landmark as it rapidly, substantially fostered the two-way relations and made Vietnam and the US partners of each other and contributed to easing the pain of war in both nations, practically serving the interests of the two peoples and for peace, stability in the region and the world.

Six years later, in November 2006, President George W. Bush and First Lady Laura Bush visited Vietnam. This was the second US presidential visit to the Southeast Asian nation since the two countries established diplomatic relations in 1995.

 

Discussions between US President George W. Bush and Vietnamese leaders covered various issues, ranging from strengthening bilateral cooperation in investment, trade, security, humanity and development aid to international issues such as terrorism.

 

The US visit in 2015 by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong, 40 years after the war, 20 years after relations normalisation and with three years of comprehensive partnership between the two countries, drew public attention. Despite different political philosophies, political systems and viewpoints on human rights and religious freedom, the Vietnam - US relationship has yielded fruitful results in the past years. According to President Barack Obama, this is because “leaders of the two countries work together on the basis of people’s interests and happiness”.

 

Meanwhile, according to General Secretary Nguyen Phu Trong, an important impetus to boost the Vietnam - US relationship is common interests that the two countries share bilaterally, regionally and globally. Both nations have much potential for fostering cooperation in various fields for the benefit and development of each country and also for peace, stability, cooperation and development in the Asia - Pacific and the world.

 

With the signing of 14 cooperation documents and agreements on various fields and the adoption of the US - Vietnam Joint Vision Statement during the US visit by General Secretary Nguyen Phu Trong, the two sides shaped the future development of bilateral relations, constantly deepened and enriched the comprehensive partnership. Particularly, economic, trade and investment cooperation is central; cooperation in science, technology, education, training, health and environment is highlighted and potential; and cooperation in defence and security needs to be strengthened with appropriate steps to benefit both parties, humanity cooperation should be further strengthened, and people-to-people exchange is seen as a key field.

 

During the Party Chief’s visit, a US$507-million cooperation agreement was signed by Vietnam and the World Bank. Specifically, the Governor of the State Bank of Vietnam (SBV) Nguyen Van Binh and World Bank Vice President Axel Van Trotsenburg signed four projects funded by International Development Association (IDA), a WB arm. The SBV also allowed Citibank to open a wholly foreign-owned bank in Vietnam.

 

In the transport sector, a US$124-million green transport development project in Ho Chi Minh City was approved, aimed to improve public transport performance and development, beautify urban zones, protect the environment and improve the living quality of dwellers. Not only that, Vietjet airline company signed a cooperation agreement on design and manufacture of aviation data products with Honeywell and a credit agreement on aircraft purchase with JPMorgan.

 

The Electricity of Vietnam Group (EVN) and General Electric inked a memorandum of understanding on cooperation in human resources development, factory operations, enterprise management and service optimisation, and wind power development in Vietnam. Phu Cuong Group and the US Trade and Development Agency (USTDA) also signed an agreement on financing wind-to-power projects for the former. Vietnam National Oil and Gas Group (PetroVietnam) and Murphy Group inked a cooperation agreement on oil and gas business development in Vietnam, the US and third countries.

 

Clearly, the US - Vietnam economic, trade and investment cooperation has made rapid progress over the past years. With the two-way trade value of US$41.28 billion in 2015, the US became a leading trade partner of Vietnam. The former mainly imported agricultural products, electronic components and consumer goods from the latter. Meanwhile, US firms have invested over US$11.3 billion in 781 projects in Vietnam, ranking eighth out of 101 countries and territories investing in Vietnam.