HÀ NỘI — The Joint Statement on a US-Việt Nam Framework for an Agreement on Reciprocal, Fair and Balanced Trade will help elevate the bilateral economic and trade relations to a strategic level, while also building the necessary trust for a future comprehensive trade agreement between the two countries, according to an expert.

The joint statement was announced on October 26, on the occasion of US President Donald Trump's and Vietnamese Prime Minister Phạm Minh Chính’s attendance at the 47th ASEAN Summit and related summits in Kuala Lumpur, Malaysia.

Bùi Quý Thuấn, head of the research division at the Vietnam Industrial Park Finance Association (VIPFA), said that this move marks a strategic milestone, highlighting Việt Nam's success in negotiating reciprocal tariffs with the US as well as reinforcing its consistent foreign policy amid the current complex geopolitical landscape.

This statement establishes an important legal framework, and ensures fairness in the economic partnership between Việt Nam and the US, paving the way for a long-term, mutually beneficial cooperation aligned with the comprehensive strategic partnership between the two countries. It creates stability, trust and predictability for their businesses and investors engaged in investment and trade.

It also demonstrates that rather than simply engaging in traditional trade exchanges, the two countries can collaborate to address core issues such as market transparency, intellectual property protection and the promotion of sustainable development, Thuấn said, affirming that this provides a foundation for expanding cooperation into new areas of mutual interest such as high technology, energy and the digital economy.

The identification of products in Annex III to Executive Order 14356, dated September 5, 2025 – “Potential Tariff Adjustments for Aligned Partners” – to benefit from a zero tariff rate is highly significant for Việt Nam's key export products. This move indicates that the US may consider Việt Nam as an aligned partner in economic relations, in line with the comprehensive strategic partnership.

From a legal perspective, the recognition of Việt Nam as an aligned partner in trade, as outlined in Annex III to Executive Order 14356, is not just a preferential treatment, but also represents an official acknowledgment from the US of Việt Nam as a partner with a like-minded trade orientation.

Economically, this statement will strengthen Việt Nam's position in the global supply chain. With zero tariffs, Vietnamese goods will become more competitive in the US market. At the same time, Việt Nam will emerge as a more attractive and stable destination for investors seeking to diversify supply chains. This boost in confidence will encourage foreign direct investment (FDI) from the US and Europe, leading to a wave of high-quality investment in Việt Nam in the near future, Thuấn assessed.

Moreover, it allows Việt Nam to proactively shape a new framework for economic relations with the US, particularly within bilateral trade exchanges that align with Việt Nam’s strategic orientation and economic policies in its new era of the nation’s rise. At the same time, it affirms Việt Nam’s role as a reliable and responsible partner for the US in remaining committed to global standards such as transparency and institutional reform, he added. — VNA/VNS