Hanoi (VNA) - France remains a major partner in Vietnam’s foreign policy, with bilateral cooperation producing substantive and positive results, affirmed Deputy Minister of Finance Tran Quoc Phuong at the annual Vietnam–France High-Level Economic Dialogue in Hanoi on November 6.
At the dialogue, established as a regular intergovernmental mechanism between Vietnam and France, both sides discussed macroeconomic developments in their respective countries and reviewed bilateral cooperation in trade, investment, development aid, and sectoral partnerships in transport, energy, agriculture, environment, finance, and banking.
Magali Cesana, head of the Bilateral Affairs and International Business Development Department under the French Treasury, reaffirmed France’s commitment to strengthening bilateral cooperation through concrete projects and programmes involving both public agencies and private enterprises.
France expressed strong interest in continuing to support Vietnam’s economic reform and development agenda, especially in transport and energy infrastructure projects, to jointly address global challenges such as climate change and digital transformation while safeguarding national sovereignty.
Phuong noted that the two sides had agreed on future cooperation priorities, including the effective implementation of the EU–Vietnam Free Trade Agreement (EVFTA), promoting French investment in Vietnam’s key sectors such as sustainable development, renewable energy, high technology, infrastructure, and agriculture. He also urged France to soon ratify the EU–Vietnam Investment Protection Agreement (EVIPA).
Highlighting Vietnam’s growing demand for development financing, he said the government is improving the legal framework for mobilising and managing ODA and concessional loans, and called for France’s continued partnership given its technological expertise and long-standing cooperation with Vietnam.
Both sides agreed to closely coordinate in implementing signed cooperation agreements and to explore new collaboration opportunities in energy, finance, and banking. Cesana welcomed Vietnam’s proposals and pledged continued French support and knowledge sharing in its areas of strength.
The two sides affirmed that despite global uncertainties, the determination of both governments, ministries, and localities, along with the support of French partners, will ensure that economic and financial cooperation continues to grow stronger and more substantive, contributing to closer ties between the two economies.
Vietnam and France share a long-standing relationship since the establishment of diplomatic relations in 1973. Their cooperation has expanded across politics, diplomacy, trade, investment, development, culture, education, and people-to-people exchanges.
This solid foundation has elevated bilateral relations to a Strategic Partnership in 2013 and a Comprehensive Strategic Partnership in 2024, with France being the first EU country to reach this highest level of partnership with Vietnam. Since 2018, the two sides have maintained regular high-level visits, reflecting their shared commitment to deepening cooperation.
Economic, trade, and development cooperation are key pillars of the Comprehensive Strategic Partnership. Vietnam is France’s second-largest trading partner in ASEAN, while France ranks fourth among Vietnam’s trade partners in the EU. In 2024, bilateral trade reached over 5.4 billion USD, up 12.9% year-on-year, with Vietnam’s exports exceeding 3.4 billion USD and imports over 2 billion USD.
France currently has more than 700 active investment projects in Vietnam across 16 sectors, with total registered capital of around 4 billion USD, ranking 16th among 151 foreign investors. Meanwhile, Vietnamese enterprises have invested in 22 projects in France with total registered capital of 40 million USD.
France remains one of Vietnam’s first and largest providers of ODA and concessional loans through the French Treasury and the French Development Agency (AFD), supporting projects across the country in various sectors./.
VNA
