EU Council president to visit Vietnam amid partnership upgrade

EU Council president to visit Vietnam amid partnership upgrade

High-level exchanges are set to underscore the deepening ties between the European Union and Vietnam as both sides advance a new phase of strategic cooperation.

Photo: VNA

European Council President António Costa will visit Vietnam on January 29, as the EU and Vietnam elevate their relationship to a Comprehensive Strategic Partnership, coinciding with the 35^th anniversary of bilateral diplomatic ties.

His programme includes meetings with Communist Party General Secretary To Lam, State President Luong Cuong, Prime Minister Pham Minh Chinh, and National Assembly Chairman Tran Thanh Man, as well as a site visit to Hanoi Metro Line 3, a project co-financed by the European Investment Bank.

"The European Union is committed to strengthening and deepening its ties with Vietnam, building on shared values and mutual goals. For 35 years, our partnership has grown in depth and ambition. I am honoured to travel to Vietnam to mark the upgrade of our relationship to a Comprehensive Strategic Partnership," said Costa.

EU-Vietnam cooperation today spans trade, sustainable development, innovation, governance, and global security.

Among the most significant achievements of the past decade is the EU–Vietnam Free Trade Agreement, which came into force in 2020. As the EU’s first free trade agreement with a developing country, this agreement has helped raise bilateral trade by around 40 per cent and expanded EU investment in Vietnam from €22 billion ($18.5 billion) to more than €30 billion ($25.3 billion).

Looking towards the future, the EU and Vietnam are working closely to elevate their ties to a Comprehensive Strategic Partnership. Both sides see considerable potential in deepening cooperation across the green transition, research and innovation, science and technology, and digital transformation, including skills development and future-oriented sectors such as semiconductors. At the same time, cooperation in maritime security, cybersecurity, and crisis management is expected to expand as both partners navigate a more complex global environment.

European businesses already play a strong role in Vietnam’s development, and predictable, transparent, and coherent policies will help further attract high-quality investment that aligns with Vietnam’s ambitions for a green, digital, and high-income future.

VIR