"The United States has to boost its own economy and consumption" amid the global downturn, Max Baucus, chair of the Senate Finance Committee, told a press conference during a visit to Hanoi, the capital of the communist country.

"We urge export countries seriously to move away from policies that focus so much on exports and instead to focus on local consumption."

Baucus added: "We also have to address the large imbalance of trade between the United States and Vietnam," calling it "a trend that cannot be maintained."

Last year Vietnam's exports to the United States, its largest foreign market, topped US$10 billion, while Vietnam only imported US goods worth US$1.7 billion, said the state-run general Statistical Office here.

Vietnam -whose major exports include oil, textiles, rice and coffee -predicts about 6.5% economic growth this year, down from last year's 8.5%, amid falling demand in foreign markets and lower commodity prices.

Agence France Presse - December 19, 2008