MoIT Minister Nguyen Hong Dien, who is also head of the Government negotiation team, chairs a meeting with team members and representatives from relevant agencies before the first negotiation round. (Photo: moit.gov.vn)  

The second round of negotiations on a reciprocal trade agreement between Vietnam and the US is being held in Washington, D.C. from May 19 to 22, according to the Ministry of Industry and Trade (MoIT).

The Vietnamese delegation is led by MoIT Minister Nguyen Hong Dien, who is also head of the Government negotiation team, and includes members of the team and representatives from various ministries and the State Bank of Vietnam.

On the first day of talks, the two delegations discussed a general approach to settling key mutual concerns and accelerating the negotiation process.

They exchanged views in an open, straightforward, and constructive manner on the issues of mutual interest, working to clarify the draft agreement's wording and providing information on current policies of each side to lay the groundwork for further steps.

On the same day, Minister Dien also held a working session with Westinghouse, one of the world’s leading nuclear technology corporations. During the meeting, he stated that Vietnam intends to restart its nuclear power programme to ensure energy security amid rising electricity demand and the current limitations of renewable energy sources.

The minister emphasised that Vietnam will take a prudent, modern, and practical approach. He noted the country has several promising sites for nuclear power development, which provides a stepping stone for cooperation with international partners such as Westinghouse. This includes both large-scale nuclear power projects and small modular reactors (SMRs).

Energy cooperation will also be an important driver for balancing bilateral trade, the minister affirmed.

Margaret Cosentino, Executive Vice President of Westinghouse, expressed strong support for Vietnam’s plans and stressed the importance of long-term energy cooperation.

Both sides agreed to share information and work towards signing a memorandum of understanding between Westinghouse and the Vietnam National Industry - Energy Group (Petrovietnam) in the field of nuclear power development.

The two parties will also continue to promote cooperation, particularly in critical areas such as investment models for energy infrastructure (PPP, BOT), technology transfer, and the training and development of technical personnel for the nuclear power sector./.