PM Phuc welcomes Vietnam-Luxembourg cooperation framework agreement

PM Phuc spoke of his appreciation for the Vietnam visit by Minister Jean Asselborn, especially on the occasion of the 45th anniversary of diplomatic ties, noting that Vietnam always considers Luxembourg an important friend and partner.

Minister Jean Asselborn expressed his impression on Vietnam’s land and people, saying this is the fifth time he has visited the country since 2004 and he will spend time touring the country.

Appreciating the signing of a framework agreement on cooperation between the two governments, the Vietnamese cabinet leader said this creates a cooperation framework suitable for the new situation, especially in cooperation for development and climate change response support.

He highlighted Luxembourg as the fifth biggest European Union investor in Vietnam and showed hope that both nations will work hand in hand to facilitate their businesses to partner in the areas of finance-banking, tourism, and green growth.

The two countries need to accelerate the finalization of all remaining issues of the Investment Protection Agreement (IPA) and launch relevant procedures to sign the Free Trade Agreement on the sidelines of the forthcoming 12th ASEM.

Vietnam is grateful to and thanked Luxembourg for providing it with non-refundable aid worth 124 million Euros from 1995 to 2015, he told his guest.

Phuc said he hopes that the European country will continue assist Vietnam in responding to climate change, and step up cooperation with Vietnam in building and developing the financial and banking markets as it has a wealth of experience and has realized a number of effective cooperative programmes with Vietnam in the realm.

Minister Jean Asselborn said his nation’s maintenance of ODA provision for Vietnam over the past 25 years showed its recognition of importance to developing ties with Vietnam.

He noted with satisfaction the growing trade value between the two countries and pledged nation’s greater efforts to join hands with Vietnam to raise the value to a higher level.

Asselborn also hailed PM Phuc’s speech regarding environmental protection at the recent G7 Outreach Summit and offered the sharing of his country’s experience in green bond model for application in Vietnam.

He said he expects that the EU and Vietnam will sign their free trade agreement (FTA) soon in order to offer favourable conditions for both sides to augment stronger cooperation in the time ahead.