Us Vietnam Trade Agreement 2019
Vietnam remains heavily contaminated with explosive remnants of war, including unexploded ordnance (UXO), including extensive contamination by cluster bombs from the war with the United States. The United States is the largest donor of UXO mining operations in Vietnam, and the two countries signed a Memorandum of Understanding in December 2013 to continue cooperation with unexploded weapons. U.S. efforts to address legacy charges such as UXO/Demining, MIA accounting and the rehabilitation of Agent Orange (a defoliant used by U.S. forces) laid the foundation for U.S.-Vietnam defense relations. The United States and Vietnam are committed to strengthening defence cooperation between the two countries, as outlined in the Memorandum of Understanding on the Promotion of Bilateral Defence Cooperation in 2011 and the U.S.-Vietnam Joint Vision Statement on Defence Relations, signed in 2015, prioritizing humanitarian cooperation, war legacy issues, maritime security, peace and humanitarian assistance and disaster relief. Many of these issues are discussed in annual bilateral defence discussions. In May 2016, the United States lifted its ban on the sale of lethal weapons in Vietnam and continued to provide maritime security assistance to Vietnam, including through the Maritime Security Initiative, the Firearms Reduction Program and military policy. In 2017, the United States transferred a Hamilton-class knife to improve Vietnam`s policing capabilities, and in 2019, it authorized the transfer of a second milling. Also in 2017, the United States and Vietnam have established a working group on the Cooperative Humanitarian and Medical Storage Initiative, which will promote cooperation in humanitarian and disaster relief. The United States reaffirmed its support for Vietnam`s peacekeeping efforts by supporting Vietnam`s first deployment of United Nations peacekeeping forces in 2018. Second, it is well positioned to take advantage of the trade war between the United States and China. In the first four months of this year, foreign investment increased by 50.4% compared to the same period in 2018 (China being the largest investor).
There are many stories that are supported by survey data on the transfer of investment from China to Vietnam in order to avoid tariffs on U.S. exports. This has reinforced the optimism of vietnamese private sectors and, in the private sector, many Vietnamese companies support the Trump administration`s hard line toward China. Third, Vietnam`s impressive array of trade agreements will spur growth. It is a member of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP), a successor to the Trans-Pacific Partnership (TPP), from which the United States withdrew in 2017, including a free trade agreement with the European Union.