An Empirical Model Assessing the Impacts of Main Factors on Vietnam- United States Trade

Proceedings of The 5th International Conference on Business, Management and Finance

Year: 2022

DOI:

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An Empirical Model Assessing the Impacts of Main Factors on Vietnam- United States Trade

Nguyen Thi Thu Hoan, M.A.

ABSTRACT: 

After 29 years since the United States lifted the economic embargo against Vietnam (1993), and 27 years of the normalization of relations (1995), Vietnam and the US have now become comprehensive partners in all areas, notably bilateral trade, with a milestone of signing a Bilateral Trade Agreement (BTA) in 2000. To better understand the impacts of the BTA and other major factors on bilateral trade between the two countries and provide related policy implications, this study applies Gravity model in assessing the impacts of main factors, including the BTA, on export and import between Vietnam and United States from 2000 to present. The study shows that the signed BTA has shown a clear positive impact on both import and export between the two countries from 2000 up to now.

keywords: BTA, Vietnam- United States trade, export, import, gravity model.