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Vietnam, European Council to build up bilateral relations

Both Vietnam and the European Council (EC) are pleased with the rapid and positive development of bilateral relations in the three main pillars of economics-trade, politics and cooperation over the past years.
Both Vietnam and the European Council (EC) are pleased with the rapidand positive development of bilateral relations in the three mainpillars of economics-trade, politics and cooperation over the pastyears.

The remarks were made at the talks by President Truong Tan Sang and the EC President Herman Van Rompuy in Hanoi on October 31.

The European Union (EU) is now one of Vietnam’s leading tradepartners and investors while the country is the EU’s fifth biggest tradepartner in the Association of Southeast Asian Nations (ASEAN).

Two-way trade turnover in 2011 exceeded 24 billion USD even in thecontext of global economic difficulty, reflecting a positive trend forthe two sides’ relationship.

The signing ofthe Comprehensive Partnership and Cooperation Agreement (PCA) and thefirst round of negotiation of the Free Trade Agreement (FTA) werespecific and important steps to boost economic and political cooperation between Vietnam and EU member countries.

During the talks, the two sides agreed to continue speeding updelegation exchange, encouraging and creating more favourable conditionsfor Vietnamese and EU businesses to making long-time investment in eachother’s markets, especially in the fields of industry, infrastructure,transport, energy, finance, health care, tourism and services.

The EU pledged to provide Vietnam with technical assistance,step up negotiations to complete the signing of the Free TradeAgreement as well as recognise Vietnam ’s market economic status assoon as possible.

Vietnam asked the EU tomaintain the Generalised System of Preferences (GSP) for Vietnam inthe 2013-2015 period, and prioritise the implementation of the MutualRecognition Agreement.

๊ It also thanked the EU and its member countries for providing Vietnam with official development assistanceover many years. The two sides agreed to closely coordinate inimplementing effectively ODA programmes in the time to come, which will focus on poverty reduction, sustainable development, environmental protection and climate change adaptation.

They reached a consensus on intensifying dialogue and cooperation atregional and international forums, especially those within the frameworkof the United Nations and the Asia-Europe Meeting.

Vietnam praised the EU’s contributions to the ASEAN Communityestablishment, and its commitment to helping ASEAN become a core part inEast Asia .

With its role as a coordinator for the ASEAN-EU relation in the 2012-2015 period, Vietnam will try its best to promote the ASEAN-EU relation, Sang said.

The two sides also supported efforts to build Southeast Asia into aregion of peace, stability, cooperation and friendship, stressing theneed to ensure maritime security, safety and freedom in the East Sea.

On the occasion, the two sides signed an150-million-EUR contract to finance climate change related investmentsfunded by the European Investment Bank, and a statement on the signingof the EU Multilateral Trade Assistance Project.-VNA

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