Half a century of friendship and progress
Over the past half-century, their partnership has evolved into a multifaceted relationship, with both nations eyeing new opportunities for collaboration. Vietnam has prioritized its comprehensive partnership with the European Union, including Portugal, which views Vietnam as a vital market in Southeast Asia.
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PM Pham Minh Chinh (right) and Portuguese Foreign Minister Joao Gomes Cravinho |
High-level visits have solidified political ties, with the most recent on June 9 at the third United Nations Ocean Conference in Nice, France. There, Vietnamese Prime Minister Pham Minh Chinh and his Portuguese counterpart Luis Montenegro pledged to boost economic and trade links, urging their business communities to explore mutually beneficial opportunities in shipbuilding, maritime transport, energy, and agriculture.
PM Pham Minh Chinh pushed for a new cooperation agreement, alongside expanded collaboration in national defense, security, culture, education, tourism, sports and people-to-people exchanges He also sought Portugal’s support in the early ratification of the E.U.–Vietnam Investment Protection Agreement (EVIPA) by the European Parliament and the removal of the E.U.’s "yellow card" warning on Vietnamese seafood exports.
He also announced Vietnam’s intention to open an embassy in Portugal soon, a move welcomed by PM Montenegro, who expressed Portugal's readiness to facilitate this process and voiced hope for a reciprocal Portuguese diplomatic presence in Vietnam.
On the multilateral front, both countries are working closely together at international and regional forums, including the United Nations, the Asia–Europe Meeting (ASEM), and EU–ASEAN frameworks.
Economic, trade ties gain momentum
Two-way trade has seen steady growth, hitting 668.8 million USD in 2023 and climbing to 705 million USD in 2024. Both sides are aiming for 1 billion USD in the near future, fueled by marine economy, maritime services, renewable energy, infrastructure, apparel, footwear, trade, and tourism.
The E.U.-Vietnam Free Trade Agreement (EVFTA), effective since August 2020, has been a catalyst, with Portugal among the early ratifiers of the EVIPA in April 2023. However, direct investment from Portugal in Vietnam remains limited, with only two projects worth 90,000 USD as of January 5, placing Portugal 137th among 149 countries investing in Vietnam.
Cultural and educational exchanges have flourished. Since 2014, Portugal has supported Portuguese language education at Hanoi University by providing lecturers.
Locality-to-locality partnerships, such as between Ho Chi Minh City and Porto, and Dong Nai province and Vila Nova de Gaia, have also been a bright spot.
In June, the Portugal-Vietnam Friendship Association was established in Porto, uniting about 50 supporters, including lawyers, academics, and municipal officials. It has fostered twinning agreements, university collaborations, and activities driving trade, investment, sports, and culture.
The small Vietnamese community in Portugal, estimated at 200 people, remains an active force in nurturing friendship and all-around cooperation.
Source: VNA