Vietnamese Prime Minister Pham Minh Chinh and Luxembourg Prime Minister Xavier Bettel in Hanoi on Thursday. Photo: VGP

During the talks between Prime Minister Pham Minh Chinh and Luxembourg Prime Minister Xavier Bettel, the two countries agreed to establish a framework of a strategic partnership on green finance, considering this as a new pillar of cooperation.

After the successful talks, on May 4, Prime Minister Pham Minh Chinh and Luxembourg Prime Minister Xavier Bettel witnessed the signing of a number of cooperation documents of the ministries of the two countries.

Leaders of ministries and branches of the two countries signed the protocol amending the agreement between the Governments on avoiding double taxation and tax evasion, for taxes on income and property; agreement on strategic partnership on green finance between the Ministry of Finance of the two countries.

Speaking at the press conference, Prime Minister Pham Minh Chinh noted the significance of the visit to Vietnam by PM Bettel, especially as the two countries were celebrating the 50th anniversary of diplomatic relations. This was also the first trip to Vietnam by a Luxembourg Government leader in over 20 years.

The visit comes five months after the meeting between the two Prime Ministers in Luxembourg. This shows their determination to strengthen cooperation to bring the two countries' relations to a new, extensive and effective stage of development. This is for the benefit of the two peoples, for peace, stability, cooperation and development in the region and in the world.

Vietnam-Luxembourg relations are developing, especially in politics-diplomacy, finance, trade and investment; expanding in other potential areas, such as education and training, science and technology, information and communication.

Prime Minister Pham Minh Chinh said Vietnam wants to learn from Luxembourg's experience in the process of developing from an agricultural country to steel production and then fostering the financial-banking sector.

Luxembourg now has a developed economy with the highest per capita income, the lowest public debt in the world, strong in industry and services, and is the financial center of Europe.

At the talks, the two sides agreed on directions to strengthen political trust, contribute to the socio-economic development of each country, as well as effectively coordinate in response to global challenges.

The two countries continue to make effective use of the EU-Vietnam Free Trade Agreement (EVFTA), thereby agreeing to create favorable conditions for the two countries' goods to access each other's markets; promote the construction of logistics centers and establish a system of customs warehouses in each country.

Vietnam wants Luxembourg to encourage the EU to remove the yellow card for Vietnamese seafood exports. Vietnam made great efforts to fully implement the EC's recommendations on IUU standards to develop sustainable fisheries and ensure livelihoods for Vietnamese fishermen.

The two countries agreed to establish the framework of the strategic partnership on green finance, considering this a new pillar of cooperation, contributing to the two countries' relations and the goal of sustainable economic development.

An overview of the official talks held between the Vietnamese and Luxembourg Government leaders in Hanoi. Photo: VGP

Regarding development cooperation, PM Chinh proposed that Luxembourg continue to provide ODA to Vietnam in finance and banking.

The two sides agreed to strengthen cooperation in solving global issues, with a focus on climate change response and adaptation.

Vietnam asked Luxembourg to support technology and resources to implement climate change adaptation projects in Vietnam, especially in the Mekong Delta.

The two countries agreed to coordinate and support each other at multilateral forums, regional and international organizations such as the United Nations, ASEM, and ASEAN-EU relations. This aims to make practical contributions to peace, stability, cooperation and development in the region and the world.

Regarding the South China Sea issue, Vietnam and Luxembourg reaffirmed the importance of ensuring peace, stability, security, safety, and freedom of navigation and overflight in the South China Sea, refraining from the use or threat of force, and resolving disputes through peaceful means following international law, especially the 1982 United Nations Convention on the Law of the Sea.

The joint press conference by the Vietnamese and Luxembourg Prime Ministers was held after the official talks in Hanoi. Photo: VNS

Prime Minister Xavier Bettel recalled the good results of the 50-year relationship between the two countries and assessed that Vietnam made remarkable progress in recent years. He said that his visit achieved good results in various fields, including removing obstacles for business activities, promoting financial cooperation, climate change response, cultural cooperation, people-to-people exchanges and visa issues.

The main objective of development cooperation would be to provide opportunities for all countries and peoples to have a better life and future, PM Bettel said, adding that Luxembourg's development cooperation activities had been effectively implemented in coordination with Vietnam.

Vietnam was one of only two Asian countries and one of ten countries worldwide to receive development aid from Luxembourg, with a total value of 160 million euros.

"We always stand side by side with Vietnam, even in difficult times, and both countries are determined to elevate our relationship to new heights, especially on the occasion of the 50th anniversary of the establishment of diplomatic relations," the Luxembourg Government leader said.

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