Vietnam and the EU upgrade to a comprehensive strategic partnership, pledging deeper cooperation on trade, tech and security amid global uncertainty.
HANOI: Vietnam and the European Union have pledged to deepen economic and security cooperation, upgrading their diplomatic relationship to a comprehensive strategic partnership.
European Council President Antonio Costa said the two must “stand side by side as reliable and predictable partners” during his visit to Hanoi.
He made the statement at a moment when the “international rules-based order is under threat”.
President Luong Cuong called the upgrade a “new landmark” reflecting “sincere and mutual trust”.
The announcement follows Vietnam’s Communist Party recently reaffirming General Secretary To Lam as the country’s top leader.
Bilateral trade has grown by around 40% since the EU-Vietnam Free Trade Agreement was signed in 2019.
The two sides agreed to deepen cooperation on trade, technology, energy and security according to a joint statement.
They also pledged to work together on supply chain security, critical minerals, semiconductors and artificial intelligence.
Cuong said “science, technology and innovation” should become the “pillars of bilateral ties”.
He added that Vietnam also sought cooperation on security and defence, especially at sea and in cyber domains.
Vietnam’s economy grew 8% last year despite new 20% tariffs from its largest export market, the United States.
The country is now seeking new markets beyond its top trading partners, the US and China.
Upgrading ties with the EU is part of Hanoi’s effort “to diversify its export market beyond the US”, said analyst Khang Vu.
“Vietnam wants to maintain an open international environment for trade, and the EU can help,” he added.
Hanoi also has comprehensive strategic partnerships with China, Russia and the United States.
It has agreed to similar partnerships with nearly a dozen countries since 2022.
Vietnam has long practiced what its leaders term “bamboo diplomacy”, looking to stay on good terms with the world’s major powers.
