US, Vietnam to hold regular economic talks, explore technical partnership By Reuters

Written by Andrea Shalal

WASHINGTON (Reuters) – The United States and Vietnam said on Thursday they agreed to hold regular talks at the senior level on macroeconomic policies and efforts to maintain financial stability, and that they would also look for a possible technical assistance partnership.

US Treasury Secretary Janet Yellen and State Bank of Vietnam Governor Nguyen Thi Hung announced the agreements in a joint statement as Yellen ended her visit to Hanoi, affirming her desire to strengthen US-Vietnam relations.

“The United States and Vietnam are trusted partners bound by a friendship based on mutual respect and the shared goal of promoting strong, resilient, secure, and inclusive growth,” they said. “We look forward to strengthening this partnership even further in the coming years.”

The two leaders said they saw an “important opportunity” to enhance cooperation between the two countries with the aim of achieving strong, inclusive and sustainable growth through well-designed macroeconomic policies.

They agreed to deepen their participation by conducting a regular high-level dialogue on macroeconomic and fiscal policies, exchanging knowledge on stable and efficient financial markets, and supporting their common goals of achieving strong, resilient, safe, and inclusive economic growth and financial stability.

They also noted in the statement that the Treasury Department appreciates the efforts made by the Central Bank of Vietnam to continue modernizing and strengthening the transparency of its monetary policy and exchange rate management framework, promoting macroeconomic stability, and ensuring the soundness and soundness of the banking system.

The Treasury Department in November removed Vietnam from its watchlist for possible currency manipulation, adding that it was satisfied with the progress Hanoi had made in addressing concerns about its currency practices.