Việt Nam acts as bridge for ASEAN-EU relations: experts

First Vice President of the Belgian Senate Andries Gryffroy. — VNA/VNS Photo

BRUSSELS — Việt Nam has the potential to become a country that plays a vital role in the relationship between the European Union (EU) and the Association of Southeast Asian Nations (ASEAN).

This is the common assessment made by European politicians, experts and entrepreneurs on the threshold of a commemorative summit to celebrate the 45th anniversary of ASEAN-EU relations on December 14 in Brussels, Belgium.

First Vice President of the Belgian Senate Andries Gryffroy said Việt Nam had an important strategic geological position in the Indo-Pacific. Its economy is currently an important link in the supply chain and economic value of ASEAN with many advantages such as: a stable macro environment, a dynamic economy, an increasingly open consumer market, a stable political background and consistency in investment policies for economic development.

He stressed that Việt Nam played an important role in the relationship between ASEAN and the EU.

Also emphasising Việt Nam's role as a bridge between ASEAN and the EU, Jeroen Cooreman, who is in charge of bilateral relations at the Belgian Ministry of Foreign Affairs, said that Việt Nam's commitment to renewable energy development, green and sustainable development and digital transformation was in line with Belgium's priorities as well as the EU's agenda.

From the perspective of commercial organisations, the Flanders Chamber of Commerce assessed that in addition to the role as a bridge between the two regions, the Vietnamese market, with a young population, would be an attractive destination for European investors, especially in areas such as clean technology, food, beverage and logistics.

The Việt Nam-EU relationship is said to be at its best. From an aid recipient, Việt Nam has now become an equal and mutually beneficial partner of the EU.

Statistics from the European Institute for Asian Studies show that the EU is now Việt Nam's leading trade partner, third-largest export market and fifth-biggest import market. Two-way trade reached EUR57.1 billion (US$60.2 billion) in the first nine months of this year, up 10.3 per cent year-on-year.

The union is also the fifth largest investor in Việt Nam, with a total registered capital of $27.6 billion as of August 2022. In the January-August period alone, EU businesses poured $2.2 billion into Việt Nam, up 69.6 per cent yearly. — VNS