President Luong Cuong met with Ron Vachris, president and CEO of Costco Wholesale Corporation, one of the largest retailers in the US with over 870 stores globally, in Seattle on September 21.
Vachris expressed Costco's desire to partner with major Vietnamese suppliers to offer products suited to the market, fostering long-term collaboration. He estimated that the value of Vietnamese goods in Costco's supply chain could exceed USD 1 billion annually, focusing on textiles, footwear, furniture, seafood, cashews, and coffee.
Costco representatives are interested in developing a strategic partnership framework to enhance production and supply capabilities. They are also willing to share expertise and guidance on implementing ESG (environmental, social, and governance) standards.
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President Luong Cuong meets with Ron Vachris, president and CEO of Costco Wholesale Corporation, on September 21. Photo: TTXVN |
President Luong Cuong meets with Ron Vachris, president and CEO of Costco Wholesale Corporation, on September 21. Photo: TTXVN
President Cuong commended Costco's business performance and its interest in increasing purchases of Vietnamese exports for its distribution network.
He viewed Costco's partnership initiative as a positive step, enabling Vietnam to integrate further into global value chains in agriculture, fisheries, textiles, footwear, and light industry.
The president also welcomed Costco's leading role in promoting ESG standards, aligning with Vietnam's sustainable development goals. Vietnam is ready to cooperate in green technology transfer, supporting businesses in improving production processes, reducing emissions, and utilizing renewable energy to enhance product competitiveness.
With a population nearing 100 million and ever-expanding consumer demand, Vietnam offers significant potential for foreign partners. President Cuong expressed his hope for Costco to establish an official and long-term investment presence in Vietnam.
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President Luong Cuong meets with Stephanie Pope, president and CEO of Boeing Commercial Airplanes (BCA). Photo: TTXVN |
President Luong Cuong meets with Stephanie Pope, president and CEO of Boeing Commercial Airplanes (BCA). Photo: TTXVN
Also on September 21, President Cuong met with Stephanie Pope, president and CEO of Boeing Commercial Airplanes. Pope stated that Boeing would continue working with Vietnamese airlines to finalize agreements, further strengthening their cooperative relationship.
According to Pope, Vietnam Airlines currently operates 17 Boeing aircraft. Vietjet has signed a contract to purchase over 200 aircraft, with the first delivered on this occasion. This highlights the significance of the Southeast Asian market, including Vietnam, for Boeing.
President Cuong affirmed that Vietnam, with its dynamic economic growth, would become a promising market for Boeing's modern aircraft.
He valued Boeing's cooperation and support and requested continued coordination to complete and deliver existing orders on schedule with efficient operational plans and financing.
The president urged Boeing to explore and invest in component manufacturing plants and establish a regional maintenance center for equipment and aircraft, linked to major airports, serving Vietnam and Southeast Asia. He also encouraged Boeing to facilitate Vietnamese businesses' participation in its global supply chain, solidifying a sustainable, long-term partnership.
President Cuong is on a working visit to the US, attending the High-Level General Debate of the 80th session of the United Nations General Assembly, combined with bilateral activities. The visit coincides with the 30th anniversary of US-Vietnam diplomatic relations and the second anniversary of the Comprehensive Strategic Partnership.
The US and Vietnam normalized relations on July 12, 1995, and elevated their relationship to a Comprehensive Strategic Partnership in 2023. Bilateral trade in 2024 reached nearly USD 150 billion, a 20.5% increase compared to the previous year. The US is currently Vietnam's second-largest trading partner and most important export market.
Phuong Dung
