Vietnam, EU target multi-faceted ties hinh anh 1Prime Minister Nguyen Tan Dung (L) and his guest (Source:

Hanoi (VNA) - Vietnam and the European Union (EU) boast substantial potential for cooperation, especially after the two officially sign and realise the bilateral free trade agreement, said Prime Minister Nguyen Tan Dung.

The leader told visiting European Commissioner for International Co-operation and Development Neven Mimica in Hanoi on November 17 that Vietnam always wishes to continue the equal and mutually beneficial cooperation with the EU in all areas, for mutual development.

Hailing the working visit to Vietnam by Neven Mimica and the outcomes of his meetings with the Vietnamese agencies, PM Dung thanked the EU for continuing the provision of official development assistance (ODA) for Vietnam.

The Commissioner highlighted the cooperation with Vietnam over the past time, saying he believes that the bilateral ties will develop intensively and extensively across economics, trade, investment, development cooperation, politics, the environment and climate change combat.

The EU promises and is resolved to closely cooperate with Vietnam – a big and important partner, he said.

Neven Mimica said the early ratification of the Agreement on Comprehensive Partnership and Cooperation and the signing of the Vietnam-EU Free Trade Agreement will create a basis for the two sides to push their relationship forward.

The EU backs Vietnam’s growth and sustainable development and will provide more ODA for the country in public administration, justice, health care, poverty elimination, clean energy, greenhouse gas reduction and climate change response.

The EU is currently the second biggest trade partner and one of the two largest export markets of Vietnam.

In 2014, two-way trade exceeded 36.8 billion USD, a year-on-year increase of 9 percent. It included nearly 28 billion USD worth of Vietnamese exports which are mainly footwear, apparel, coffee, wood products and aquatic products.

Twenty-three of the 28 EU member nations invested in Vietnam by the end of 2014 with over 2,000 valid projects worth more than 37 billion USD. EU investments are present in almost all important economic sectors of Vietnam, especially industry, construction and some services.-VNA