"I think US$10 billion is actually a low target now,” Michael Marine told local reporters in Ho Chi Minh City. “We need to be aiming at $15 billion."

He was speaking on the occasion of the conclusion of his three-year term in Vietnam.

The ambassador said last year's bilateral trade was US$9.7 billion.

The first and probably most important incentive for two-way trade is the trade agreement that the two countries reached in 2001, he explained.

"That created the framework for our two economies to begin to mesh and since then we've been building year-on-year at a rate of over 20-25 percent based on that foundation."

Vietnamese exports to the US were growing at a faster rate than American products coming to Vietnam, Marine told the press conference.

“To a certain extent, that's expected because of the level of development of our two societies and two economies. But I think it's also important that we focus some attention on this and avoid having the trade gap become too large."

He encouraged Vietnamese companies and leaders to think about American technology and quality when they are considering purchases. "Of course, we also have much to offer in the service sector: banking, insurance, money management and other areas.”

Regarding educational cooperation program between the two countries, the Ambassador stressed American companies had offered many educational opportunities to young Vietnamese at all levels.

In addition, he added, the US-based Vietnam Education Foundation and the Fulbright Scholars Program have had non-commercial programs in strengthening educational cooperation with Vietnam to provide outstanding Vietnamese a chance to attend doctoral courses in the US.

He hoped that with the country’s rapid growth, the number of Vietnamese guest students in the US would increase considerably from the current 4,500.

Asked about his plan after leaving the post as ambassador, Marine said he will leave the diplomatic sector after 32 years and seek a new job.

“If I have a message to my successor, it will be: Welcome to work in a country that is becoming more important to the United States. You come here when the two sides are together looking for a way to expand their relations. You will have many things to do and I wish you success,” he said. (Thanh Nien, Sai Gon Giai Phong)