(kontumtv.vn) – Minister of Industry and Trade Nguyen Hong Dien said that ASEAN needs to be united, calm, and courageous in cooperation with the United States, prioritizing promoting cooperation with non-bloc partners in general and the United States in particular in areas of mutual interest.

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The Ministry of Industry and Trade attended the Conference online.

According to information from the Ministry of Industry and Trade, on April 10, the Special ASEAN Economic Ministers’ Meeting on US tariff policy was held online. The Vietnamese delegation was led by Minister of Industry and Trade Nguyen Hong Dien, along with representatives from the Ministry of Foreign Affairs and units under the Ministry of Industry and Trade.

At the Conference, on the Vietnamese side, Minister of Industry and Trade Nguyen Hong Dien shared Vietnam's viewpoint on the US's reciprocal tariff policy. Accordingly, Vietnam has been proactive in exchanges, dialogues and negotiations with the US. Vietnam believes that ASEAN needs to be united, calm and courageous in cooperation with the US; prioritize promoting cooperation with external partners in general and the US in particular in areas of mutual interest, thereby realizing long-term development goals and enhancing ASEAN's position in the new context.

Minister Nguyen Hong Dien also acknowledged and supported the content of the Joint Statement discussed by Vietnam and ASEAN countries; emphasizing that the Statement demonstrates ASEAN's solidarity and proactive role in the context of complex and unpredictable global trade developments. Vietnam supports ASEAN's comprehensive, flexible and practical approach to enhancing economic autonomy as well as promoting supply chain diversification through effective utilization of existing FTAs ​​that ASEAN has, including through upgrading the ASEAN Trade in Goods Agreement (ATIGA).

After exchanging views in a frank, open and cooperative spirit, the Ministers agreed to adopt the Joint Statement of the ASEAN Economic Ministers, expressing the common stance of the bloc on the US application of reciprocal tariffs with some main contents such as: Affirming the importance of the ASEAN-US comprehensive strategic partnership for regional economic growth, contributing to promoting peace, stability, bringing practical benefits to both the region and the US (currently ASEAN is the 5th largest trading partner of the US, the US is currently the second largest trading partner and the largest investor of ASEAN); expressing ASEAN's deep concern about the negative impact of the US's new tax policy; this policy can cause huge challenges for the business community, especially small and medium enterprises, potentially undermining global economic growth prospects, disrupting supply chains as well as trade and investment flows; reaffirm ASEAN’s commitment to a rules-based, predictable, transparent, free, fair, inclusive and sustainable multilateral trading system with the World Trade Organization (WTO) playing a central role and call on the United States to engage in constructive and candid dialogue to address trade-related concerns and ensure a balanced and sustainable relationship;

At the same time, the Ministers also expressed their commitment to continue cooperating with the United States in trade, investment and high value-added areas of mutual interest; and are ready to strengthen cooperation with the United States on existing cooperation mechanisms such as the ASEAN-US Trade and Investment Framework Agreement (TIFA) and the Expanded Economic Engagement Work Plan (E3) to seek appropriate solutions to mutually beneficial issues.

The conference also agreed on a number of contents such as establishing a task force on ASEAN geo-economics to assess the impact on US tax policy and propose timely recommendations to support ASEAN's efforts in the process of exchanging, resolving concerns of both sides, and seeking cooperation opportunities in new areas of mutual interest.

Ta Nguyen/Tin Tuc Newspaper