Speaking at the forum, PM Nguyen Xuan Phuc praised the Belgium-Vietnam Friendship Alliance in collaboration with the VCCI for organizing the significant forum as a way of augmenting cooperation between the two nations’ enterprises.

Belgium is a high-tech economy with diversified and high value-added services, Phuc said while highlighting the European nation as a vast market, opening up a wealth of opportunity for enterprises to do business.

Vietnam-Belgium trade turnover and Belgian investment in Vietnam have been steadily on the uptick over recent years with two-way trade increasing tenfold in nearly a decade, and it is likely to reach US$53 billion this year, he noted.

Emphasizing the Europe-Vietnam free trade agreement (EVFTA) which is expected to open its door for the enterprises to fully tap cooperation potential when it comes into force, PM Phuc said he hopes that the European business association, especially Belgian firms, will raise their Along with the imminent signing of the EVFTA, Vietnam has engaged in 15 new-generation FTAs, which means that if Belgian businesses enter Vietnam, they will gain entry into a global market.

The Vietnamese cabinet leader also affirmed the Vietnamese Government’s sustained effort to improve the business climate for both domestic and foreign enterprises and offer favourable conditions for enterprises to enhance their connectivity towards successful cooperation for the benefits of both businesses and people.

At the forum, PM Phuc also witnessed the signing of two cooperation documents on logistics and information and technology between Vietnamese and Belgian enterprises.

This year marks the 45th anniversary of the establishment of the two countries’ diplomatic ties (March 22, 1973).

Belgium is Vietnam’s seventh biggest importer in the European Union (EU), after Germany, the Netherlands, the UK, Italy, France, Spain and Austria. Though being only a small country, Belgium has served as an important gateway for Vietnam’s commodities to access other Western European nations.

In 2017, Belgium had 62 investment projects with total capital of US$595 million in Vietnam. Most projects are of small scale.

Meanwhile, Vietnam has invested in two projects in Brussels, including a US$152,000 trade promotion centre in Brussels and the Europe trade and investment joint stock company worth US$90,000.

Since the two countries signed the Framework Agreement on Economic, Industrial and Technical Cooperation in 1977, Belgium has offered nearly US$300 million in loans and non-refundable aid to Vietnam, with about 60 percent non-refundable aid.

Their cooperation programmes have mainly targeted water resource management, waste treatment, State management, institutional enhancement and administrative reform, education, agriculture and rural development, and health care.

Belgium ended its non-refundable aid to Vietnam in July 2018.

The Vietnam-Belgium Joint Committee on Scientific and Technical Cooperation meets every three years to review and set directions for cooperation programmes and projects between the two countries.

The two sides are teaming up in 18 research projects with a total funding of US$8 million in the form of cooperation between universities and research institutes, expert exchange and implementation of joint research programmes.

Each year, Belgium provides about 2 million EUR for Vietnam’s education-training sector through cooperation programmes between universities and research institutes. Nearly 300 Vietnamese students are studying and doing research in the country.

Besides, many joint projects on languages, scientific research capacity improvement and personnel training have also been launched at local level.

PM Phuc’s Belgium visit is made at the invitation of his Belgian counterpart Charles Michel. It is part of his trip to Europe from October 14-21 to attend the 12th ASEM Summit (ASEM 12) and the Partnering for Green Growth and the Global Goals 2030 Summit (P4G) and pay officials visits to Austria, Belgium, Demark and a working visit to the European Union (EU).

Prime Minister Nguyen Xuan Phuc, his wife and high-ranking delegation departed Hanoi on October 14 morning for Vienna, Austria, to attend the 12th ASEM Summit (ASEM 12) and the Partnering for Green Growth and the Global Goals 2030 Summit (P4G) and pay officials visits to Austria, Belgium, Demark and a working visit to the European Union (EU).The visits came at the invitations of President of the European Council Donald Tusk, President of the European Commission Jean-Claude Juncker, Austrian Chancellor Sebastian Kurz, Belgian Prime Minister Charles Michel, and Danish Prime Minister Lars Løkke Rasmussen.

The cabinet leader is accompanied by Minister of Trade and Industry Tran Tuan Anh, Minister of Agriculture and Rural Development Nguyen Xuan Cuong, Minister of Health Nguyen Thi Kim Tien, Permanent Deputy Minister of Foreign Affairs Bui Thanh Son, Deputy Minister of Public Security Bui Van Nam, Vietnamese Ambassador to Austria Le Dung, and others.

The 12th Asia-Europe Summit (ASEM 12), set to take place in Belgium, will focus on a score of measures to promote ASEM’s role in promoting multilateral cooperation and Asia- Europe connectivity, upholding international law, and maintaining peace, security, stability, cooperation and development of the world and the two continents.

The Partnering for Green Growth and the Global Goals 2030 Summit (P4G) themed “Solutions for Sustainable Development”, scheduled to be held in Copenhagen, Denmark, is expected to outline a vision, orientations, and specific measures and actions to promote green growth and sustainable development on a global scale.

Vietnam’s attendance at these meetings at the invitation of the EU shows their high regard for  the southeast Asian nation’s role in dealing with current international issues.

The trip to Europe by Prime Minister Phuc takes place amid the continued positive development of the Vietnam –EU relations, as evidenced by regular meetings and delegation exchanges.

The EU is the largest non-refundable aid provider for Vietnam, the third largest trading partner behind China and the US, the second largest export market after the US, and the leading foreign investor in Vietnam.

Therefore, the visits are of particular significance, showing international friends’ recognition of high importance to Vietnam’s role in resolving global challenges.

Vietnam and EU officially set up diplomatic ties on November 28, 1990. In 1996, the European Commission (EC) established its representative delegation in Hanoi.

Both sides have maintained cooperation mechanisms, including the annual Political Consultation at Vice-Ministerial Level, the Vietnam-EU Joint Committee, and the Vietnam-EU human rights dialogue.

In the first half of 2018, bilateral trade reached US$27 billion, up 12.35 % over 2017. The two sides have been actively speeding up the signing of the EU-Vietnam Free Trade Agreement (EVFTA) and the Investment Protection Agreement (IPA).

Vietnam and the EU have also worked closely at multilateral forums and international organisations,  particularly within the framework of the ASEAN-EU cooperation mechanism, the ASEM and the UN.

During the trip, Prime Minister Nguyen Xuan Phuc and his delegation are due to visit Austria, Belgium and Denmark which are important partners of Vietnam in economic, trade and cultural cooperation. Vietnam established diplomatic relations with Austria in 1972, with Belgium in 1973, and with Denmark in 1971.

Vietnam and Austria have maintained high-level meetings and delegation exchanges, close cooperation, and mutual support at multilateral forums. Belgium is currently Vietnam’s seventh largest export market in the EU, investing nearly US$600 million in the country.

For Denmark, 2018 marks the fifth anniversary of Vietnam – Denmark comprehensive partnership. The two sides have closely and effectively coordinate at multilateral forums, especially the United Nations, ASEM and ASEAN-EU.

PM Phuc’s attendance at ASEM 12, P4G and his visits to Austria, Belgium, Denmark and the EU are designed to affirm Vietnam’s external policy of independence, self-reliance, peace, cooperation and development, diversification and multilateralization of international relations, and active international integration.

The visits also extend a message of Vietnam’s extensive integration into the international community, enhancement of multilateral diplomacy, contributions to building and shaping multilateral institutions and effective participation in addressing global challenges at multilateral organizations.