Vietnam key to US growth in Asia-Pacific: official

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A top US state official said last Monday that Vietnam continues to be the "key pillar" in America's growth in the Asia-Pacific region.

Robert Hormats, under US Secretary of State for economic, energy and agriculture affairs, was speaking to Hanoi's Foreign Trade University students during his visit.

Hormats said bilateral trade relations have continued to improve within the Trade and Investment Framework Agreements signed in 2007 and as talks on the Trans-Pacific Partnership continue.

Under President Obama's plan to double US exports in the next five years, Vietnam is among the key markets, he said.

Hormats, however, warned Vietnam against the implementation of price controls as it could discourage both domestic and foreign investors. He urged government leaders to study the case in other nations.

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