Post by : Meena Ariff

On Thursday morning in Hanoi, State President Lương Cường warmly welcomed President António Costa, the President of the European Council, during his two-day official visit to Vietnam. The ceremony saw the participation of top Vietnamese leaders including ministers from agriculture, finance, science and technology, defence, public security, foreign affairs, industry, and trade, as well as the Vietnamese Ambassador to the EU.

At the event, a young student from Hanoi presented a bouquet to President Costa, symbolizing the friendship between Vietnam and the European Union. This visit is particularly significant as it comes shortly after the 14th National Congress of the Communist Party of Vietnam, marking a key moment in Vietnam-EU relations.

Vietnam and the EU have maintained official diplomatic relations since November 28, 1990. Over the years, their cooperation has steadily grown with frequent high-level meetings and close coordination in international organizations such as ASEAN-EU, the Asia-Europe Meeting, and the United Nations.

The strengthening of Vietnam’s foreign policy has deepened ties with Europe, opening opportunities for strategic cooperation across political, economic, trade, investment, scientific, and technological fields. This progress supports Vietnam’s current phase of development.

A major milestone was reached in 2012 with the signing of the Partnership and Cooperation Agreement (PCA), which took effect in 2016 and laid the groundwork for deeper collaboration. Following that, in 2019, the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) were signed.

Implemented since August 2020, the EVFTA has acted as a “highway” linking the two vibrant economies, significantly boosting trade and investment. Vietnam has become the EU’s largest trading partner in ASEAN, while the EU is now Vietnam’s fourth-largest trade partner and sixth-biggest investor.

Trade between the two sides has surged over 40%, increasing from $44.1 billion in 2020 to $64.6 billion in 2024, with $61 billion recorded in the first ten months of 2025 alone. EU investments in Vietnam have also grown substantially, rising from $25.5 billion to nearly $35 billion.

President Costa’s visit underlines the EU’s recognition of Vietnam’s foreign policy success and highlights Vietnam’s rising role and prestige in the global arena as a key EU partner in the Asia-Pacific region.

After the welcome ceremony, President Lương Cường and President Costa held a private meeting, followed by formal talks with their delegations to review recent cooperation and plan future partnerships. Both leaders are set to hold a joint press conference to share the outcomes of their discussions.

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