Vietnam has secured a host of bilateral trade agreements with major economic powers and joined such large regional deals as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Partnership (RCEP). However, Vietnam’s ambitions go beyond mere economic gains, as evidenced by its early involvement in the discussion of the Indo-Pacific Economic Framework for Prosperity (IPEF) launched by the US in May 2022.

Vietnam believes that the Indo-Pacific Economic Framework for Prosperity (IPEF) should be based on open, inclusive and transparent principles in line with international law, while ensuring ASEAN's central role and supplementing existing economic links, stated Foreign Ministry spokesperson Le Thi Thu Hang.