Vietnam a model in trade cooperation: EC official

Executive Vice President of the European Commission (EC) Valdis Dombrovskis, who is also Trade Commissioner, has affirmed that the European Union (EU) has regarded Vietnam as its important partner in the region, and called the Southeast Asian nation a model in impressive trade cooperation, especially after the EU-Vietnam Free Trade Agreement (EVFTA) came into force in 2020.
Vietnam a model in trade cooperation: EC official ảnh 1At the meeting (Photo: VNA)
Brussels (VNA) - Executive Vice President ofthe European Commission (EC) Valdis Dombrovskis, who is also Trade Commissioner,has affirmed that the European Union (EU) has regarded Vietnam as its important partner in theregion, and called the Southeast Asian nation a model in impressive tradecooperation, especially after the EU-Vietnam Free Trade Agreement (EVFTA) cameinto force in 2020.

Speaking at a meeting with the ASEAN BrusselsCommittee (ABC) in Brussels on June 6, Dombrovskis noted that the EU willincrease its investment in Vietnam, particularly in significant such areas asjust energy transition, and sustainable development.

Vietnam’s Vice Ambassador to Belgium Vu Thu Thuyemphasised that the EU is an important partner of Vietnam, and tradecooperation remains a bright spot and a pillar of the bilateral ties.

After the coming into force of the EVFTA, thetwo-way trade has grown more than 30% annually despite uncertainties in theregional and global situation, she said, suggesting the two sides continuetheir coordination to effectively materialise the existing agreements, whileexpanding their collaboration in other spheres like circular economy, greenenergy, smart agriculture and digital economy.

Thuy also called on the EU to increase itshigh-quality investment in Vietnam, and help the country in the transfer ofcutting-edge technologies, and capacity improvement in the time ahead.

Regarding the ASEAN-EU relations, the official saidVietnam stands ready to cooperate and share experience, towards common goals ofASEAN.

She also suggested ASEAN and the EU further optimisecooperation channels, frameworks and forums to effectively coordinate in addressingchallenges in the spirit of mutual benefits.

Dombrovskis alsonoted that the 10-member grouping is the EU’s third biggest trade partner, andvice versa, and the two sides boast substantial potential and advantages toexpand their cooperation, especially in economy, trade and investment.

Apart from trade, the EU wishes to partner with ASEANin other fields like green transition, digital transformation and sustainablesupply chain, he added.

The ASEAN countries expressed their wish that the EUwill step up cooperation with the bloc, and suggested the two sides enhancedialogues and hold all-level negotiations to improve their mutual trust andunderstanding, and narrow development gaps./.
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