Remarks by Secretary of the Treasury Janet L. Yellen at Bilateral Meeting with Prime Minister of Vietnam Pham Minh Chinh

As Prepared for Delivery

Prime Minister Chinh, thank you for hosting me today. I’m glad we are able to meet here in Hanoi again after we first met in person during your visit to Washington, D.C. last year.

I am pleased to visit you during the 10th anniversary of our Comprehensive Partnership.

In the 28 years since we normalized relations, the bilateral relationship between the United States and Vietnam has grown deeper and broader.

The United States considers Vietnam a key partner in advancing a free and open Indo-Pacific.

Vietnam is also a close economic partner, with our two-way trade reaching record highs last year and the United States serving as Vietnam’s largest export market.

Indeed, Vietnam is a partner in our Administration’s “friendshoring” initiative to deepen integration with a broad set of partners and allies to create diverse, resilient, and sustainable supply chains in key industries. We are encouraged by the growing investments that companies are making in Vietnam.

We are supportive of Vietnam’s growth and economic transformation, which are good for both the Vietnamese and the American people.

I welcome your leadership on the clean energy transition. Along with the International Partners Group colleagues, the UK, and the EU, I was very encouraged by the announcement of the Just Energy Transition Partnership, or JETP, in December, which is expected to mobilize over $15 billion toward your energy efforts.

I look forward to hearing more about Vietnam’s path forward.

It is a priority for our Administration to deepen our economic and security ties with Vietnam in the months and years to come. I look forward to working with you to do so.

Thank you.

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