US EditionVietnam and the EU upgrade ties as US tariffs reshape global trade
The EU-Vietnam partnership aims to boost trade by 40% and deepen cooperation in critical minerals, semiconductors, defense, and trusted telecom infrastructure amid global trade challenges.
- On Jan 29, Vietnam and the European Union upgraded diplomatic relations to a comprehensive strategic partnership, Vietnam's highest diplomatic level.
- A 2020 free trade agreement between Vietnam and the 27-country European Union eliminated nearly 99% of tariffs and boosted bilateral trade by about 40%, while Vietnam now has 17 trade agreements.
- A joint statement adopted on Thursday says the sides will explore cooperation in defence, critical minerals, semiconductors, transport, and `trusted communications infrastructure`, with Costa saying `we need to start to stand side by side as reliable and predictable partners`.
- The elevation usually involves more frequent high-level meetings, increasing political engagement despite no binding commitments, and carries political weight as both face higher levies on exports to the United States.
- The EU is among Vietnam's top 10 investors with about $30 billion in FDI, while two-way trade has grown 10%-15% annually, underscoring Vietnam's expanding economic and security role.
103 Articles
103 Articles
The Vietnamese President sees me as a "historic mark" at a time when the Asian country is looking for new markets.
The EU and Vietnam agreed today to deepen cooperation by establishing a comprehensive strategic partnership during a visit to Hanoi by European Council President Antonio Costa. The rapprochement comes at a time of uncertain trade policy, with US President Donald Trump threatening tariffs on the countries.
Vietnam and the European Union have strengthened diplomatic relations by raising them to the level of global strategic partnership, at a time marked by international trade tensions and rising VAT rates in the US. The decision aims to deepen cooperation in such areas as trade, green energy, technology and security, Agerpres reports.
The European Union and Vietnam want to deepen their cooperation.
Vietnam and the European Union are deepening their diplomatic relations and developing their cooperation. "We are raising our relations to the highest level - to a comprehensive strategic partnership," said EU Council President António Costa on Thursday during a visit to Vietnam.This appreciation reflects the "depth and breadth" of cooperation between the two sides, said Costa referring to areas such as trade, technology and security.Costa spoke…
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