Việt Nam gives high regard to EU's support in development and integration: foreign minister

Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn during talks with Josep Borrell Fontelles, High Representative of the EU for Foreign Affairs and Security Policy in Hà Nội on Tuesday. — VNA/VNS Photo An Đăng

HÀ NỘI — Việt Nam gives high regard to the European Union’s assistance in the country’s socioeconomic development and global integration, foreign minister Bùi Thanh Sơn said at a press conference following his talks with Josep Borrell Fontelles, High Representative of the EU for Foreign Affairs and Security Policy.

Fontelles was leading the EU delegation to attend late Party General Secretary Nguyễn Phú Trọng’s funeral, highlighting the latter’s contributions to Việt Nam’s rising position in the global context, as well as the Việt Nam-EU relations.

Việt Nam and the EU have seen positive progress in all areas of cooperation, notably with four cooperation agreements and eight dialogue mechanisms.

The Southeast Asian nation is also the first country in ASEAN to have an all-round cooperation with the EU, including politics, trade, national defence and security.

The EU is the largest non-refundable aid provider as well as a leading trade-investment partner of Việt Nam, with positive progress brought by the EU-Việt Nam Free Trade Agreement (EVFTA) after four years of execution.

Their bilateral trade turnover reached US$58.5 billion in 2023. This figure in the first six months of 2024 was $24.7 billion, a 16 per cent year-on-year increase.

EU is the fifth largest investor in Việt Nam with nearly $30 billion in accumulated FDI (foreign direct investment). Meanwhile, Việt Nam is the largest trade partner of the EU in ASEAN and the 16th largest globally.

Vietnamese foreign minister Sơn requested that the EU continue its ODA (official development assistance) for Việt Nam through bilateral and multilateral channels, as well as regional programmes.

This support should focus on key sectors for Việt Nam’s sustainable development such as public governance capacity, green economy, digital economy, circular economy and sustainable fisheries.

He also requested the EU recognise Việt Nam’s efforts in countering illegal, unreported and unregulated (IUU) fishing and soon remove the ‘yellow card’ for Vietnamese seafood exports.

Other areas for cooperation include the ratification of the EU-Việt Nam Investment Protection Agreement (EVIPA) and the Just Energy Transition Partnership (JETP).

Reaffirming the EU’s support for Việt Nam’s net-zero commitment through JETP, Fontelles emphasised that the immediate crucial task was to accelerate progress based on project priorities and institutional reforms.

Việt Nam also welcomed the EU’s positive role in the Indo-Pacific through initiatives and strategies that strengthen the cooperation between the EU and the region.

In addition to the EU’s Global Gateway Initiative, Việt Nam also supported enhancing the ASEAN-EU Strategic Partnership.

Discussing regional and international issues of mutual concern, Việt Nam appreciated the EU’s role and contributions in maintaining peace, stability, cooperation, freedom of navigation and aviation in the East Sea (known internationally as the South China Sea) based on international laws.