Minister of Industry and Trade Nguyen Hong Dien (standing) chairs a working session with major Vietnamese enterprises on May 7. (Photo: VNA)

Minister of Industry and Trade Nguyen Hong Dien on May 7 chaired a working session with major Vietnamese enterprises to implement the Prime Minister's directive on promoting trade agreements to help balance the trade relationship between the US and Vietnam.

Participants included leading corporations such as the Vietnam National Industry - Energy Group (PVN), Vietnam National Petroleum Group (Petrolimex), Vietnam Electricity (EVN), Vietnam Airlines, and Vietjet Air, among others.

In recent years, these enterprises have posted substantial imports from the US, including aircraft, machinery, equipment, turbines for gas-fired power plants, power transmission systems, GPU chips, raw materials, and fuels, amounting to several billions of USD.

During the meeting, the corporations reported on the progress of procurement agreements signed in 2025. They also made assessments and forecasts on this year's and future demand for imports of the equipment, goods, services, and materials in which the US has strengths.

They said they plan to intensify engagements and meetings with US partners from now until June to advance the signing of contracts to implement previously signed agreements and memoranda of understanding.

Minister Dien, who leads the Government’s negotiation delegation on a reciprocal trade agreement with the US, said that Vietnam currently has big and stable demand for US goods, equipment, and services - areas which the US is strong at and Vietnam needs.

However, he noted that bilateral trade has yet to reflect its full potential. The minister stressed the need for both sides to urgently review and resolve outstanding issues to facilitate the trade of essential goods and services.

He further called on enterprises to take a more proactive approach in unlocking this vast potential, stressing that such efforts will play a crucial role in deepening economic, trade, and investment cooperation between the two nations in a substantive and effective manner.

These actions will also contribute to building a more balanced, harmonious, and sustainable trade relationship, Dien remarked./.