President Truong Tan Sang on November 17 held a roundtable talk with representatives of the US groups in the Philippines as part of his trip to the country to attend the 23rd APEC Economic Leaders’ Meeting.

President Truong Tan Sang holds a roundtable talk with representatives of the US groups in the Philippines.

He said the Vietnam and the US made strides in their relations 20 years since the establishment of their diplomatic ties and two years since the formation of the comprehensive partnership.

The relationship has been mainly driven by economic, trade and investment cooperation achievements, he said, speaking highly of US businesses’ contributions and investment commitments to Vietnam.

Vietnam is working hard to complete the institutions of the market economy, legal frameworks, policies, administrative reforms, he said.

It is aligning free trade commitments, including those in the Trans-Pacific Partnership (TPP), to its laws to facilitate US businesses’ investment in industry, services, high technology, farm produce processing and biological pharmaceutical products, he said.

The leader called on the US businesses to contribute to Vietnam’s development.

The US entrepreneurs expressed their delight at the conclusion of negotiations of the TPP agreement, saying they pin high hope on Vietnam’s development.

They also expressed their upbeat about Vietnam’s new developmental prospects and believed that the TPP will create a new and long-term cooperation framework for the two countries.

Earlier, President Sang held talks with his Philippine counterpart Benigno Aquino, during which the two leaders witnessed the signing of a joint statement on the establishment of a strategic partnership between the two countries.

He also met with Speaker of the House of Representatives of the Philippines Faliciana Belmonte.

He was a guest of honour at a special dinner hosted by Carlos Chan, President of the Liwayway Marketing Corporation.

On the same day, Deputy Prime Minister and Foreign Minister Pham Binh Minh and Minister for Foreign Affairs and Immigration of Papua New Guinea Rimbink Pato signed a memorandum of understanding on the two countries’ cooperation.

At their talks earlier, the two sides agreed to soon establish cooperative mechanisms and sign cooperation agreements on trade, investment, education, agriculture and culture.

VNA