EU and Vietnam explore new areas for cooperation

The EU and Vietnam held their fifth Joint Committee meeting on October 22 in Hanoi to review bilateral relations and cooperation under the framework of the Partnership and Cooperation Agreement. They welcomed the growing momentum in their multifaceted relationship, testified by a dynamic agenda of meetings and visits, including at the highest level.

The EU and Vietnam agreed to work towards the upgrading of the bilateral relationship. In this context, the EU and Vietnam convened to explore, develop and deepen new areas for cooperation in just energy transition and connectivity, including transport, digital transformation, critical raw materials, semiconductors, research and innovation, and education. This cooperation can unleash new potential and dynamics in the EU-Vietnam relationship, which will benefit both partners.

The EU informed about new policies in the framework of the EU’s Green Deal, such as the Carbon Border Adjustment Mechanism and the Deforestation Regulation, including the proposed 12-month extension period for its phasing-in. The EU commended Vietnam for its positive approach towards the new regulation, and Vietnam expressed appreciation for support measures to facilitate compliance of Vietnamese suppliers.

The EU and Vietnam also discussed trade and investment issues, including tax cooperation, and reaffirmed their commitment to ensure a mutually beneficial implementation of the Free Trade Agreement. They took stock of progress made in fisheries, including ongoing actions regarding combating illegal, unreported and unregulated fishing.

They looked forward to intensifying their cooperation on connectivity and sustainable development, namely under the EU’s Global Gateway Strategy. Special focus was given to the Just Energy Transition Partnership, where the two sides committed to make further progress on accelerating the green energy transition in Vietnam in line with the country's net-zero goals.

They shared their respective positions and objectives for upcoming climate, environment and biodiversity-related international negotiations with the aim to build possible synergies for sustainable global development.

The EU delegation was led by Niclas Kvarnström, managing director for Asia-Pacific in the European External Action Service. The Vietnamese delegation was led by Le Thi Thu Hang, vice-minister of Foreign Affairs of Vietnam. They were also joined by representatives from the European Commission, EU Member States, and Vietnamese government agencies.

Green and digital transitions offer numerous opportunities for European companies and investors. Myriam Ferran, deputy director-general for International Partnerships at the European Commission, spoke with VIR’s Thanh Van about the trend of European funding in Vietnam’s sustainable development.

The 2024 Green Economy Forum & Exhibition (GEFE) opened its doors on October 21 and is expected to attract over 8,000 participants across its three-day agenda filled with high-level dialogues, exhibitions, and networking opportunities.

Regional business executives of leading European corporations in various sectors met with Prime Minister Pham Minh Chinh at the Green Economy Forum and Exhibition (GEFE) 2022 on November 28 in Ho Chi Minh City.