In an article titled ‘Strengthening relationships with ASEAN countries: an E.U. strategic priority’, the E.U. Today wrote that among ASEAN countries, Vietnam would be a key priority, promoting economic and trade relations between ASEAN and the E.U.
It quoted Senator Andries Gryffroy, Permanent Vice President of the Belgian Senate, as saying Vietnam has an important geostrategic position in the Indo-Pacific.
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Prime Minister Pham Minh Chinh speaking at the 10th ASEAN - E.U. Business Summit |
“Vietnam's economy is currently an important link in the supply chain and economic value of the ASEAN with many advantages such as: a stable macro environment, a dynamic economy, an increasingly open consumer market, a stable political background, consistent in economic development and foreign investment policy,” said Gryffroy.
According to data from the European Institute for Asian Studies (EIAS), the E.U. is Vietnam's leading trading partner and both the third largest export market and the fifth largest import market of Vietnam. The total bilateral import-export turnover between Vietnam and the E.U. reached 57.11 billion EUR in the first nine months of 2022, up 10.3% over the same period in 2021. The EU is currently the 5th largest foreign investor in Vietnam with a total registered capital of 27.6 billion USD (accumulated until August 2022).
The article also cited opinion from the Flanders Chamber of Commerce and Investment, which assessed that in addition to the role of a bridge between the two blocs' markets, the Vietnamese market has a young population and is an attractive destination for leading European investors, especially in sectors such as clean technology, food, beverage and logistics.
The Brussels Times wrote in its December 12 article, titled ‘Vietnam – A sustained development partner and destination of foreign investment for E.U. in Southeast Asia’, that E.U. regional partners, such as Vietnam have great potential to promote stronger and more effective cooperative relations for the benefit of their respective regions and citizens.
The relationship between Vietnam and the E.U. is currently considered to be at its prime in history, it wrote. Currently, Vietnam and the E.U. have close ties with many cooperative frameworks, such as the E.U. – Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020.
The Belgian press stated that the official visit to the country by Vietnamese Prime Minister Pham Minh Chinh from December 13-15 will certainly be a new milestone and an impetus for the promotion of bilateral relations to new heights.
They said within the framework of the E.U.-ASEAN Commemorative Summit, the Vietnamese delegation led by Prime Minister Pham Minh Chinh would commit to Vietnam's orientation on renewable energy development, green and sustainable growth, digital transformation, and innovation. These commitments had been announced by the PM at the 26th United Nations Climate Change Conference of the Parties (COP26) held in Glasgow last year and are in line with Belgium's priorities as well as the E.U. Agenda.
The newspapers concluded that PM Pham Minh Chinh's visit is an opportunity for Belgium and E.U. countries to further promote cooperation in various fields, for the benefit of the people and for the common interests of mankind.
Source: VNA