Viet Nam, Luxembourg establish strategic partnership on green finance

The agreement was reached in Ha Noi on April 4 under the witness of Prime Minister Pham Minh Chinh and his Luxembourg counterpart Xavier Bettel on the occasion of the official visit of Luxembourg's Prime Minister to Viet Nam. 

At their summit meeting, Prime Minister Pham asserted that Viet Nam attaches importance to the friendship and multi-faceted relations with Luxembourg, highlighting the significance of Xavier Bettel' ongoing visit which takes place on the occasion of the 50^th founding anniversary of diplomatic ties. 

He affirmed Viet Nam's resolve to promote the two nations' relationship in a more intensive, effective and substantive manner. 

Pham spoke highly of the positive developments in the bilateral economic and trade ties, especially as Luxembourg is the third largest European investor in Viet Nam with the total investment capital worth over US$2.6 billion. 

The Vietnamese Government chief welcomed Luxembourg enterprises to invest in finance, banking, logistics and energy transition in Viet Nam, suggesting Luxembourg continue providing official development assistance for Viet Nam. 

For his side, Xavier Bettel vowed to fully and effectively implement the EU-Viet Nam Free Trade Agreement (EVFTA) to increase the two-way trade value and urge other nations in the EU to soon approve the EU-Viet Nam Investment Protection Agreement (EVIPA). 

He voiced support for stronger EU-Viet Nam cooperation in sustainable fishing and called for the European Commission (EC) to soon remove the "yellow card" on Vietnamese seafood. 

Viet Nam, Luxembourg strengthen multi-faceted cooperation

The Prime Ministers consented with measures to increase political trust and deepen friendship and multi-faceted cooperation, including enhancing delegation exchanges at all levels, effectively carrying out bilateral cooperation mechanisms and considering to establish new cooperation mechanisms.   

They pledged to accelerate the construction of logistics centers and set up a bonded warehouse system in each country. 

Both sides welcomed the establishment of strategic partnership on green finance, remarkably in fields of training, capacity building, technology transfer and financial support for agriculture and climate change towards green growth and sustainable and inclusive development. 

They underlined the need to bolster collaboration in other areas such as culture, science and technology, information and communications, people-to-people exchanges, tourism and climate change adaption. 

Regarding the international and regional issues of mutual concerns, they pledged to continue close coordination and mutual support at multilateral forums and international organizations such as ASEAN-EU, ASEM and UN frameworks, contributing to peace, stability, cooperation and development in the region and the world. 

They reaffirmed the importance of ensuring peace, stability, security, safety and freedom of aviation and navigation in the East Sea and avoiding the use or threat to use forces.

All the disputes must be handled via peaceful means in line with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982), they noted. 

The two leaders said that they support early conclusion of a substantive, effective Code of Conduct (COC) in the East Sea in accordance with international law. 

The occasion, both sides signed a Protocol amending an Agreement for the avoidance of double taxation and the prevention of fiscal evasion./.