Prime Minister Lê Minh Hưng and his Liechtenstein counterpart Brigitte Haas hold talks on Sunday. — VNA/VNS Photo

HÀ NỘI — Prime Minister Lê Minh Hưng and his Liechtenstein counterpart Brigitte Haas have agreed to soon ratify the Việt Nam-European Free Trade Association (EFTA) free trade agreement and promote its implementation once the the deal takes effect.

They reached the consensus during their talks in Hà Nội on Sunday as Haas pays an official visit to Việt Nam from October 17 to 19.

PM Hưng affirmed that Việt Nam values its relations with Liechtenstein and appreciates the country's strengths in science and technology, innovation, finance and high-quality human resources.

These areas have potential to complement Việt Nam's development priorities and strengthen connectivity between Việt Nam, ASEAN and the EFTA.

The leader welcomed the signing of the Việt Nam-EFTA free trade agreement after 14 years of negotiations and 21 official rounds of talks, as well as the double taxation avoidance agreement between Việt Nam and Liechtenstein.

The agreements will provide a more favourable framework for businesses from both sides by reducing tariffs and trade barriers, expanding market access, strengthening business connectivity and promoting investment flows, contributing to economic growth and prosperity, he said.

PM Hưng said Việt Nam is working to achieve its strategic development goals for 2030 and 2045, with a growth model driven by science and technology, innovation and digital transformation.

He called on Liechtenstein to share experiences in investment fund development and management, banking, green finance, capital markets and international asset management.

He also urged the two countries to facilitate market access for each other's goods, including Việt Nam's key exports such as seafood and textiles and garments.

He encouraged Liechtenstein businesses to increase investment in Việt Nam in high-tech industries, precision engineering, automation, medical equipment and finance, including potential participation in Việt Nam's international financial center and capital markets.

Haas thanked Việt Nam for its warm hospitality and said she was honoured to be the first member of the Liechtenstein government to visit Việt Nam.

She expressed her wish to expand bilateral ties across various fields and make effective use of opportunities created by new cooperation agreements, highlighting the Việt Nam-EFTA free trade agreement and the double taxation avoidance agreement as important milestones in bilateral relations.

The two prime ministers agreed to continue increasing exchanges of delegations at all levels, promote cooperation mechanisms and expand collaboration in areas of mutual strengths and complementarity, including finance, science and technology, innovation, digital transformation and high-tech manufacturing.

They also agreed to strengthen connections among government agencies, research institutes, universities and businesses, while promoting research cooperation, technology transfer and high-quality human resources development.

Both will enhance exchanges on investment fund management, asset management, banking, capital markets and securities, drawing on Liechtenstein's experience and strengths.

On regional and international issues, the two prime ministers agreed to continue coordinating and supporting each other at the United Nations and other multilateral forums, promote multilateralism, respect international law and a rules-based multilateral trading system, and contribute to addressing common challenges for peace, stability, cooperation and sustainable development in the region and the world. — VNS