U.S. Relations With Vietnam
Twenty-five years after the establishment of bilateral relations in 1995, the United States and Vietnam are trusted partners with a friendship grounded in mutual respect. U.S.-Vietnam relations have become increasingly cooperative and comprehensive, evolving into a flourishing partnership that spans political, economic, security, and people-to-people ties. The United States supports a strong, prosperous, and independent Vietnam that contributes to international security; engages in mutually beneficial trade relations; and respects human rights and the rule of law. Relations are guided by the 2013 U.S.-Vietnam Comprehensive Partnership, an overarching framework for advancing the bilateral relationship, and Joint Statements issued by our two countries’ leaders in 2015, 2016, and in May and November 2017. In 2020, Vietnam and the United States commemorated 25 years of diplomatic relations between the two countries, renewing their commitment to strengthened cooperation.
U.S. Assistance to Vietnam
In an effort to build Vietnam’s self-reliance, the United States works to spur further growth and trade competitiveness, combat pandemic threats, promote renewable energy, address war legacy issues, and conserve Vietnam’s forests and biodiversity.
U.S. assistance in Vietnam focuses on consolidating gains to ensure sustainable economic development while promoting good governance and the rule of law. Assistance projects aim to deepen regulatory reforms, improve the capacity and independence of Vietnam’s judicial and legislative bodies, and promote more effective public participation in the law and regulation-making processes. The United States also assists the Government of Vietnam to bring its laws and practices into compliance with international labor standards and effectively enforce labor laws and uphold workers’ rights. U.S. assistance seeks to support Vietnam’s response to climate change and other environmental challenges, including remediating Agent Orange/dioxin contamination, strengthening the country’s health and education systems, and assisting vulnerable populations. The United States and Vietnam successfully concluded the first phase of dioxin remediation at Danang International Airport in 2017, and in December 2019 commenced a 10-year remediation project at Bien Hoa Air Base as well as a $65 million initiative to provide assistance to persons with disabilities in conflict-affected provinces.
Bilateral Economic Relations
Since entry into force of the U.S.-Vietnam bilateral trade agreement in 2001, trade between the two countries and U.S. investment in Vietnam have grown dramatically. The United States and Vietnam have concluded a trade and investment framework agreement; they also have signed textile, air transport, customs, and maritime agreements. U.S. exports to Vietnam include machinery, computers and electronics, yarn/fabric, agricultural products, and vehicles. U.S. imports from Vietnam include apparel, footwear, furniture and bedding, agricultural products, seafood, and electrical machinery. U.S.-Vietnam bilateral trade has grown from $451 million in 1995 to over $90 billion in 2020. U.S. goods exports to Vietnam were worth over $10 billion in 2020, and U.S. goods imports in 2020 were worth $79.6 billion. U.S. investment in Vietnam was $2.6 billion in 2019.