HANOI, May 20 (Xinhua) -- Vietnamese Prime Minister Le Minh Hung has called for the early conclusion of a fair and balanced reciprocal trade agreement with the United States, the Vietnam News Agency reported on Wednesday.

The prime minister made the remarks during a meeting with Rick Switzer, deputy U.S. trade representative. The two sides pledged to maintain close coordination to accelerate negotiations and finalize the bilateral trade deal at an early date, according to the report.

Hung welcomed the positive progress achieved in the agreement's negotiations, affirming that the deal will further deepen economic, trade and investment cooperation, which serves as a core driver of bilateral relations.

Hung stressed that Vietnam has no policy of fostering excess industrial capacity, and Vietnamese enterprises operate fully under market mechanisms. He added that the two economies are complementary rather than directly competitive. ■