Vietnam is willing to increase US purchases, says the trade minister as new tariff talks begin

Vietnam's trade minister said that the country is ready to increase its purchases of U.S. products, particularly machinery and high-tech items. The Southeast Asian nation has begun a sixth round of tariff negotiation in Washington, this week.

According to a ministry statement, Trade Minister Le Manh Hung held meetings with executives of Apple, Exxon Mobil and GE as well as Excelerate Energy and 'AES.

In October, the 'White House' announced that?the United States?and Vietnam will finalise a trading agreement which will keep tariffs at 20% on most Vietnamese products but remove them on certain goods.

Vietnam's exports to the United States, its biggest market, hit a record of $153 billion in the last year, despite tariffs.

Vietnam's state media reported that during the visit, Trade Minister?Hung saw several memorandums signed with U.S. companies to purchase American crude oil and corn.

Vietnam News Agency reported that MOUs were signed in Washington with Chevron Energy, Marquis Energy, and ADM Asia-Pacific Trading. (Reporting and editing by David Stanway; Khanh Vu and Phuong Nguyen)

(source: Reuters)