Minister of Industry and Trade Vu Huy Hoang

Minister of Industry and Trade Vu Huy Hoang has asked US trade representatives to consider antidumping lawsuits on Vietnamese products fairly and without prejudice, the ministry said in a statement Wednesday.

He asked US trade representatives not to attach non-economic issues to bilateral trade relations, and not to let protective measures hinder trade between the two countries.

The meeting was held on the occasion of the 2009 APEC Trade Ministers’ Meeting in the city-state.

Hoang said he appreciated how important the US market was to many Vietnamese products as he and US representatives discussed measures to facilitate Vietnamese exports, such as shrimp, fruit, garments and nylon bags, to the US.

US Trade Representative Ronald Kirk praised the way the Vietnamese government had so far dealt with the current economic slowdown.

Kirk also said he hoped the two countries would accelerate the negotiation of their Bilateral Investment Treaty (BIT) in a bid to entice more US firms to do business in Vietnam.

Kirk said the US government would work closely with Vietnam to cope with trade barriers and open the US market wider to Vietnamese products amid APEC negotiations on the Trans-Pacific Strategic Economic Partnerships Agreement.

Also at the meeting, the two sides agreed to foster cooperation in the fields of agriculture, trade, intellectual property protection and environmental conservation. They reached a consensus on the need to share more information and promote an “early warning” mechanism to deal with trade disputes.

Vietnam-US trade was estimated to reach US$6.2 billion in the first six months of this year, according to the Vietnamese Ministry of Industry and Trade. Meanwhile, US-backed investment in Vietnam was set to reach nearly $5 billion during the period.

Reported by Bao Van