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Vietnamese PM, U.S. President hold telephone talks on monetary policies

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HCMC – Vietnamese Prime Minister Nguyen Xuan Phuc on December 22 spoke to U.S. President Donald Trump on the phone, clarifying that Vietnam’s monetary policies are not aimed at creating trade advantages for the country.

According to the Ministry of Foreign Affairs, during the talks, the two leaders discussed the United States Trade Representative’s ongoing investigation into Vietnam’s monetary policies and timber materials in accordance with Article 301 of the Trade Act of 1974, the local media reported.

Specifically, the U.S. Department of Treasury on December 16 issued a report on the macroeconomic and foreign exchange policies of major trading partners of the United States, labeling Vietnam a currency manipulator and accusing it of intervening in the foreign exchange market to offer an edge to its exports.

The Government leader affirmed that Vietnam, as a developing country with limited economic capacity, has issued monetary policies to control inflation and stabilize the macroeconomy. Its monetary policies are not aimed at gaining a competitive edge in international trade.

In that spirit, the Vietnamese ministries and agencies will continue working with U.S. partners to comprehensively solve the concerns of the two sides, thus maintaining their stable, harmonious, sustainable and mutually beneficiary trade ties.

Both PM Phuc and President Trump agreed that the bilateral cooperation between the two countries has grown strongly across sectors since they set up diplomatic relations 25 years ago, especially in the past few years.

They expressed their belief that the bilateral ties will further deepen in a stable manner, bringing benefits to the people of both countries, in which economic and trade cooperation remains a focus and motivation.

A strong, independent and prosperous Vietnam with an increasingly important role in the region is the aspiration of the Vietnamese people and is in line with the interests of the United States as well.

PM Phuc congratulated President Trump on the successful development of two Covid-19 vaccines at a breakneck speed.

Meanwhile, the U.S. President said he treasured the country and the people of Vietnam and expected to visit the country in the near future.

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