Hanoi (VNA) – Thereis room for Vietnam and the European Union to further bolster their economic,trade and investment cooperation although their partnership is growingstrongly, said Deputy Foreign Minister Bui Thanh Son at the “Meet Europe 2018”that was held in Hanoi on May 24.

The Deputy FM saidthat Vietnam and the EU have enjoyed sound relations despite the complicated regionaland international situation with fierce competition and trade protectionism.

After a framework agreementon comprehensive partnership and cooperation between Vietnam and the EU took effect,the bilateral ties have been expanded in various fields and become moreeffective, he noted, adding that the EU has not only been the largest non-refundabledevelopment aid provider of Vietnam but also the second biggest trade partnerand leading investor of the country.

Son said that Vietnamhas shared fruitful strategic partnership with the UK, Germany, France, Italyand Spain, while setting up comprehensive partnership with Denmark, strategicpartnership on climate change adaptation with the Netherlands, as well astraditional relations with many countries in Northern and Central Europe suchas Sweden, Finland, Poland, Hungary, Romania, the Czech Republic, Slovakia andBulgaria.

In the European FreeTrade Association, Vietnam has enjoyed growing ties with Switzerland, Norway,Iceland and Liechtenstein.

Local-levelcooperation between Vietnam and Europe has also developed effectively with theincreasingly diverse engagement of many partners, stated Son.

However, Son said thatthere is potential for Vietnam and Europe to expand their partnership. Thesigning and approval of the free trade agreements between Vietnam and the EU aswell as the European Free Trade Association in 2018 are expected to bring aboutnew breakthroughs in bilateral ties.

The pacts are hoped tocreate new momentum for the two sides to optimise market potential, resultingin new cooperation and investment opportunities for enterprises.

The Deputy FM stressedthat the Vietnamese Government has drastically implement synchronous measuresto improve its investment and business environment, ensuring that the businesscommunity from other countries, including those from Europe, operate smoothly andefficiently in Vietnam.

Meanwhile, AmbassadorBruno Angelet, Head of the EU Delegation to Vietnam, said that the free tradeagreement between Vietnam and the EU will be signed later this year.

He said that the twosides should make reform and adjustments to seek proper measures to ensure theeffective implementation of the deal.

He held that the ‘MeetEurope 2018’ will help bring about new business chances for European firms andVietnamese localities as well as lure more investment.

The meeting is anevent connecting enterprises with the Vietnamese Government. It is a jointeffort between Vietnam’s Foreign Ministry and the European Chamber of Commerce (EuroCham) in Vietnam. -VNA