ASSESSING THE IMPACTS OF SOME MAJOR FACTORS ON VIETNAM- UNITED STATES TRADE: A GRAVITY MODEL
Nguyen Thi Thu Hoan
M.A., Lecturer
Diplomatic Academy of Vietnam, Ministry of Foreign Affairs,
Hanoi, Vietnam
Abstract: After 29 years of the normalization of relations, Vietnam and the US have now become comprehensive partners in all areas, especially bilateral trade, with a milestone of signing a Bilateral Trade Agreement (BTA) in 2000. To better understand the impacts of the BTA and some other main factors on bilateral trade between the two countries and provide some related policy implications, this study applies Gravity model in assessing the impacts of some 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 of goods and services between the two countries from 2000 up to now.
Keywords: BTA, Vietnam- United States trade, export value model, import value model
Nguyen Thi Thu Hoan (2022), Assessing the impacts of some major factors on Vietnam- United States trade: a gravity model in ECONOMICS, BUSINESS, INNOVATIONS: Proceedings of the XX International Scientific and Practical Conference. – Penza, Russia: ICNS "Science and Education", pp. 39-45, ISBN 978-5-00173-445-1
