Since the normalization of relations in 1995, especially after both nations set up a framework for the comprehensive partnership, the Vietnam-US relations have progressed across a variety of fields both bilaterally and multilaterally.
Along with strengthened political ties, bilateral economic cooperation has also made great strides with the US becoming the largest export market of Vietnam.
| President Tran Dai Quang and his US counterpart Obama review the guard of honour |
Two-way trade has continued to grow at 20% over recent years, reaching more than US$45 billion in 2015, of which Vietnam has always registered a trade surplus.
Vietnam and the US see great potential for wider cooperation in numerous fields, ranging from politics, national defence, maritime security and safety to education-training, people-to-people exchange, the settlement of humanitarian issues and post-war consequences, climate change response, environmental protection and coping with other global challenges.
The US direct investment into Vietnam is estimated at more than US$11 billion, ranking seventh among foreign investors in the Southeast Asian nation.
The two sides have also finalized negotiations on the Trans-Pacific Partnership (TPP) Agreement and signed the deal in February 2016. They are working hand in hand to get approval from the legislative bodies.
Links in security-defence, education, science-technology, and climate change prevention between the two countries made significant progresses with the signing of the Joint Vision Statement in 2015.
| President Tran Dai Quang welcomes the US delegation |
Vietnam and the US have stepped up coordination at regional and multilateral forums such as APEC, ARF, ADMM +, EAS and compared notes on issues related to maritime security and the East Sea. They have also joined hand in reinforcing ASEAN solidarity, enhancing ASEAN's central role, and actualizing the US-ASEAN strategic partnership.
After the welcome ceremony, President Barack Obama held talks with President Tran Dai Quang and had meetings with Vietnamese Party, State and Government leaders to discuss measures to foster the Vietnam-US comprehensive partnership in the time ahead.
