The two sides are moving towards upgrading their relationship to a comprehensive strategic partnership, seizing broad cooperation opportunities to elevate their positions on the international arena.
Viet Nam and the EU laid the first bricks for the foundation of the bilateral relations through programmes supporting socio-economic development, improving healthcare systems and infrastructure for Viet Nam in the 1990s. At that time, the EU became one of Viet Nam’s important partners, contributing to supporting the country’s international integration. This relationship has grown steadily over time, and, so far, has achieved major progress in both breadth and depth, bringing practical benefits to both sides.
Looking back on more than three decades of cooperation, Deputy Minister of Foreign Affairs Le Thi Thu Hang said that Viet Nam–EU relations have been elevated, becoming one of the most dynamic and substantive relationships between the EU and an ASEAN country, with Viet Nam being the ASEAN member with the largest number of cooperation mechanisms with the EU.
Viet Nam–EU relations have been elevated, becoming one of the most dynamic and substantive relationships between the EU and an ASEAN country, with Viet Nam being the ASEAN member with the largest number of cooperation mechanisms with the EU.
Le Thi Thu Hang
Deputy Minister of Foreign Affairs
Trade and investment cooperation is a bright spot in Viet Nam–EU relations. More than five years since EVFTA officially came into effect, economic cooperation between the two sides has recorded remarkable progress. With tariff barriers gradually being removed, two-way trade turnover has grown rapidly, reaching an average growth rate of more than 10% per year. In the context of a global trading system shaken by tariff “storms” and a spreading wave of protectionism, the agreement not only plays a positive role in consolidating Viet Nam–EU relations but also helps both economies expand supply chains and maintain growth momentum in bilateral trade flows.
In addition to promoting trade, the EVFTA has created a strong impetus for attracting FDI inflows from the EU into Viet Nam, contributing to making the EU one of Viet Nam’s leading FDI investors. Moreover, the effective implementation of the agreement’s commitments on fair treatment of investors has helped Viet Nam build an increasingly transparent, equal, and attractive investment environment, offering an opportunity for the country to affirm its position as a reliable and appealing destination on the global investment map.
Despite achieving many positive achievements, the potential to further promote Viet Nam–EU cooperation through the EVFTA remains substantial. To maximise opportunities from the agreement’s implementation, Viet Nam has made important progresses in institutional reform in recent years, especially in the fields of labour, environment, and intellectual property. Experts have expressed confidence that, with a solid foundation of cooperation and strong efforts and determination from both sides, the EVFTA will continue to be an effective instrument in promoting Viet Nam–EU relations to develop robustly in the coming period.
Through the implementation of the Just Energy Transition Partnership (JETP) between Viet Nam and the International Partners Group (IPG), the EU has become a reliable partner, accompanying Viet Nam on its journey to fulfil climate commitments. Meanwhile, at international forums, Viet Nam and the EU share a common voice on respect for international law, protection of maritime security and safety, and support for multilateralism. These are an important foundation for strengthening political trust and promoting cooperation at a deeper strategic level.
The persistent and dedicated efforts of generations of leaders and peoples of both sides have produced positive cooperation achievements over the more than 35-year journey of Viet Nam–EU relations. In a world full of volatility and uncertainty, the EU’s commitments of accompanying Viet Nam further reinforce confidence and strength, helping Viet Nam enter steadily into a new era of national rise and achieve new, brilliant development accomplishments.
