Vietnam will accelerate the negotiations of the Trans-Pacific Partnership (TPP) which will help bolstering bilateral trade and economic ties between Vietnam and the United States, said Vietnamese President Truong Tan Sang.

The statement was made at the reception for Ambassador Demetrios James Marantis, Acting U.S. Trade Representative in capital Hanoi on Tuesday.

Vietnam will try its best and hopes to receive technical assistance from the United States to speed up the negotiations in order to elevate the Vietnam-U.S. relations, Sang said.

For his part, the ambassador said the two sides should make greater effort to narrow the cognitive gap in fields of commodities, services and investment. Marantis suggested both sides to create a mechanism to solve disputes if they erupt. The United States is willing to provide technical support to Vietnam to overcome difficulties in integration.

In a meeting with Vietnamese Deputy Prime Minister Vu Van Ninh on the same day, Marantis said that the successful negotiations will offer a chance for both sides to boost trade, exports and job creation. TPP will make Vietnam's investment environment more attractive to big foreign investors.

The United States is now Vietnam's biggest import market with two-way trade turnover increased from 2 billion U.S. dollars in 2001 to 26 billion dollars in 2012.

There are currently 11 TPP members, namely Australia, Brunei, Chile, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam. Enditem

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