Luxembourg Prime Minister Xavier Bettel and Prime Minister Pham Minh Chinh review the  guards of honor and introduce the two countries' senior leaders. Photo: VOV

High on the agenda are trade, investment, economic links, climate change, energy and food security, marine development, sustainable development, the green economy, and the digital economy. The EU considers Vietnam an important partner and Vietnam wants to learn from and exchange cooperation experience with EU countries.

Financial market cooperation is promoted

The highlight of Prime Minister Chinh's visit to Luxembourg, the first leg of his European tour, was promoting cooperation on financial market development. Luxembourg has a lot of experience in the financial sector, while Vietnam is in dire need of financial resources for national development. The two sides agreed to establish a Strategic Partnership on Green Finance framework, under which Luxembourg’s investment capital will help Vietnam implement its National Strategy on Green Growth and Climate Change Response and fulfill the commitments Vietnam made at COP26 in 2021.

Talks are held between Prime Minister Pham Minh Chinh and Dutch Prime Minister Mark Rutte. Photo: VOV

Vietnam promotes cooperation in climate change response and sustainable agriculture

Over the past 50 years, Vietnam and the Netherlands have built a flourishing friendship and cooperation, which is considered an example of a dynamic and effective relationship. The two countries established a Strategic Partnership on Climate Change Adaptation and Water Management in October 2010 and a Strategic Partnership on Sustainable Agriculture and Food Security in June 2014.

At talks with Dutch Prime Minister Mark Rutte and in meetings with Dutch leaders earlier this week, Prime Minister Chinh was reassured by commitments to cooperate in climate change response and sustainable agricultural development. The Netherlands said it is willing to share its experience, knowledge, technology, and preferential loans to help Vietnam’s sustainable agriculture, logistics, green transformation, biodiversity protection, and water management, particularly in the Mekong Delta, and promised its support in renewable energy, offshore sand mining technology, landslide prevention, and revision of the Law on Water Resources in Vietnam.

The two sides signed cooperation agreements for biotechnology applications, selection of high-value plant varieties, climate change response, training, innovation, technology commercialization, and smart agriculture training.

Official welcome ceremony for Prime Minister Pham Minh Chinh in Belgium. Photo: VOV

Vietnam, Belgium enhance agriculture, investment and trade cooperation

Belgium, the third and final leg of Prime Minister Chinh's European tour, is Vietnam's sixth largest trading partner in the EU after the Netherlands, Germany, France, Italy, and Austria. Although a small market, Belgium’s trade relations with Vietnam are at a high level, as goods from Vietnam are shipped to Belgium before being transported to other Western European countries.

During his visit, Prime Minister Chinh and Belgian Prime Minister Alexander De Croo agreed that the EVFTA is essential to their economics-trade relations.

Belgium said it supports joint implementation of the Strategic Partnership on Agriculture and proposed establishing a Joint Working Group to soon adopt specific cooperation projects. The two countries’ ministries, sectors, localities, and businesses signed cooperative agreements in agriculture, blue sea economy, food safety, and activated carbon development.

Prime Minister Chinh’s tour of the EU has made a significant overture for further fruitful cooperation, as next year Vietnam will join Luxembourg, the Netherlands, and Belgium in celebrating the 50th anniversary of their diplomatic relations.