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Vietnam, Lithuania Aim to Boost Economic Ties in Trade and Technology

by admin477351

In a recent meeting in Hanoi, Vietnam’s Permanent Deputy Prime Minister Phạm Gia Túc and Lithuania’s Foreign Minister Kęstutis Budrys explored avenues for enhancing bilateral cooperation in several key sectors. Both officials expressed optimism about the potential to strengthen ties in areas such as trade, investment, the digital economy, energy, logistics, cybersecurity, and science and technology. These discussions aim to lay a foundation for future collaboration and mutual growth.

Vietnam emphasized the importance of Lithuania’s support in encouraging the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) by the remaining EU member states. In addition, Vietnam sought Lithuania’s help in advocating for the removal of the European Commission’s “yellow card” warning on Vietnamese seafood exports, a significant concern for the country’s export industry. These moves are seen as vital steps towards boosting Vietnam’s economic engagements with the broader European Union.

Reaffirming its commitment to fostering stronger Vietnam-EU relations, Lithuania announced its intention to send a business delegation to Vietnam. This initiative aims to explore potential investment opportunities, signaling Lithuania’s active interest in expanding its economic footprint in the region. The visit is expected to further cement ties and create new avenues for collaboration between the two nations.

Both countries also pledged to enhance their cooperation within the framework of the United Nations, reflecting a shared commitment to multilateralism and international cooperation. They agreed to work together to strengthen ASEAN-EU relations, underscoring the importance of regional partnerships in addressing global challenges. Additionally, both sides reiterated their support for maintaining peace, stability, and freedom of navigation, in accordance with international law, a principle that remains crucial for the stability of the region.

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