PM Chính highlights trade and cooperation in talks with Luxembourger counterpart

December 09, 2022 - 21:48
The two leaders were satisfied with the positive developments in cooperation.
Prime Minister Phạm Minh Chính meets his counterpart Xavier Bettel on his official visit to Luxembourg on Friday.— VNA/VNS Photo Dương Giang

HÀ NỘI — In talks with his Luxembourger counterpart Xavier Bettel on Friday, Prime Minister Phạm Minh Chính said Việt Nam always treasures the comprehensive partnership with the European country.

Welcoming PM Chính on his first official visit to Luxembourg, PM Bettel hoped that this occasion would lead to a new development phase in the two countries’ relations, which were officially established nearly 50 years ago (1973-2023).

The two leaders were satisfied with the positive developments in cooperation. Luxembourg is the third largest European investor in Việt Nam, with a total investment capital reaching US$2.6 billion.

They also agreed to soon establish a strategic partnership on green finance, which utilises Luxembourg’s strength in the field, which would also support Việt Nam in implementing its national strategy on green growth and climate change response, especially the commitments made at COP26.

In regard to economic cooperation, the two prime ministers suggested that businesses and departments continue to fully and effectively implement the European Union - Việt Nam Free Trade Agreement (EVFTA), focusing on logistics connections and establishing bonded warehouses in each country to promote trade to EU and ASEAN.

They also suggested an agreement that would avoid double taxation.

PM Chính asked the Luxembourg government to create favourable conditions for Vietnamese exports to enter the country’s and EU markets, especially those of Việt Nam’s strengths such as agricultural, forestry and fishery products.

He also encouraged Luxembourg entrepreneurs to increase investment in Việt Nam in infrastructure, digital transformation, renewable energy and pharmaceutical technology.

The European country is also asked to support Việt Nam in building an international financial centre in HCM City, the ratification of the EU-Việt Nam Investment Protection Agreement (EVIPA), the removal of the “yellow” card for Việt Nam’s seafood products, and supporting resources to deploy climate change response projects, especially in the Mekong Delta region.

PM Bettel showed his support towards the suggestions from Việt Nam and said that he appreciated the Asian country’s efforts in the sustainable transformation of fisheries.

He also said that Luxembourger businesses were increasingly interested in the Vietnamese markets.

Luxembourg would also be willing to assist Việt Nam in the circular economy, banking, stock exchanges and green finance.

The two leaders also agreed to expand the area of cooperation to national security and defence, transnational crimes prevention, cybersecurity, culture, tourism, education-training and transport.

PM Bettel also supports having more scholarships for Vietnamese students to study in Luxembourg, and enhancing cooperation between education ministries and universities, as well as between start-ups and innovative businesses.

Discussing regional and international issues of mutual concern, the two leaders affirmed their support for one another in multilateral forums and international organisations for peace, stability, cooperation and development.

These include the ASEAN-EU cooperation framework, the Asia-Europe Meeting (ASEM) and United Nations (UN), especially when they are both members of the UN Human Rights Council.

On the situation in the South China Sea (called East Sea by Việt Nam), the prime ministers highlighted the importance of ensuring peace, stability, security, safety and freedom of navigation and overflight at sea, affirming their stance against the use of force and supporting addressing disputes by peaceful means in accordance with international laws, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982).

PM Chính also invited his Luxembourger counterpart to visit Việt Nam next year, to which PM Bettel accepted and hoped to schedule through diplomatic arrangements. — VNS