Vietnam says party leader and Trump discussed economic ties

Vietnam's Communist Party head To Lam has congratulated Donald Trump on his US presidential election victory in a phone call and the two discussed ways their countries could boost economic ties, the communist party said on Tuesday.

The United States is Vietnam's largest export market, and in September last year the two countries upgraded their relationship to a comprehensive strategic partnership, the highest level in Vietnam's ranking.

"Vietnam is ready to promote stable and long-term development of bilateral relations for the benefit of the people of the two countries," Lam said during the call, which took place on Monday, according to a statement posted on the communist party's website. The statement said Trump expressed his respect for the relationship with Vietnam and Vietnam-US economic cooperation, and wanted to further promote it.

Last week, officials and supply chain experts told Reuters Vietnam could face trade volatility with a new Trump presidency, as it could benefit from increased US-China trade tensions but may also become "collateral damage" of protectionist measures.

Both leaders invited the other to visit their country, according to the party statement.

Trump travelled to Vietnam twice in his first term as president, first to attend an APEC summit and then for a meeting with North Korean leader Kim Jong Un.