Vietnam, Lithuania Aim to Boost Business Ties in Trade, Energy, Tech

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In a significant diplomatic meeting in Hanoi, Vietnam’s Permanent Deputy Prime Minister Phạm Gia Túc welcomed Lithuanian Foreign Minister Kęstutis Budrys to explore avenues for enhancing bilateral cooperation. The discussions centered around the potential for collaboration in various critical sectors, including trade, investment, digital economy, energy, logistics, cybersecurity, science, and technology. Both nations recognize the vast opportunities these areas hold for strengthening their ties.

Vietnam expressed a keen interest in Lithuania’s support for the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) among the remaining EU member states. Additionally, Vietnam urged Lithuania to advocate for the removal of the European Commission’s “yellow card” on its seafood exports, which has implications for the country’s trade with the EU. Lithuania, in turn, reiterated its commitment to fortifying Vietnam-EU relations and revealed plans to send a business delegation to Vietnam to seek out investment prospects.

Beyond bilateral economic interests, the two countries underscored the importance of collaboration on international platforms. They agreed to work together at the United Nations, aiming to contribute to global peace and stability. Furthermore, enhancing ASEAN-EU relations was a mutual goal, with both parties supporting the principles of peace, stability, and freedom of navigation, in line with international law.

This meeting highlights the strategic importance both Vietnam and Lithuania place on their relationship, and the shared vision they have for future cooperation. The commitment to fostering stronger economic ties and mutual support in international forums suggests a promising trajectory for both countries’ roles on the global stage.

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