Vietnam and Belgium agree to deepen trade and investment cooperation
The two countries pledged to implement their EU trade agreement effectively and encouraged investment in semiconductors, logistics and clean energy.
Vietnam and Belgium have agreed to strengthen economic cooperation and encourage investment in priority industries, according to a joint statement announced by their foreign ministries on October 24. The statement followed Party General Secretary and State President To Lam’s official visit to Belgium.
Both governments committed to implementing the EU–Vietnam Free Trade Agreement fully and effectively. Vietnam also welcomed Belgium’s progress towards ratifying the EU–Vietnam Investment Protection Agreement. The countries stressed the importance of international labour standards and their effective implementation.
Vietnam welcomed long-term Belgian investment in areas including semiconductors, eco-industrial parks, ports, logistics, shipbuilding, high-tech agriculture, clean energy, healthcare and pharmaceuticals. The two governments encouraged their authorities, agencies and businesses to help advance cooperation.
The statement also identified improvements to legal frameworks and better use of existing cooperation mechanisms as priorities. Both countries backed stronger promotion of trade, investment and tourism, while encouraging businesses to invest in each other’s markets.
On technology, they encouraged joint research, development and applications involving safe and responsible AI, semiconductors, microelectronics and cloud computing. They also agreed to coordinate more closely against illegal, unreported and unregulated fishing, support sustainable fisheries management and implement relevant EU rules effectively.
The countries reaffirmed their intention to broaden bilateral ties, with a view to establishing a Strategic Partnership when the time is appropriate. Their foreign ministries will support follow-up work on the priorities identified during the visit.
