Vietnam has huge advantage in promoting clean and renewable energy, and  the EU would continue to support Vietnam in this regard with its own resources, from private sector and international finance to tap in this potential.

Prime Minister Pham Minh Chinh and EC Vice President Frans Timmermans. Photo: VNA

The EU gives its backing to an energy independent Vietnam just like the country has managed to stay independent economically.

Vice President of the European Commission (EC) Frans Timmermans said in a meeting with Prime Minister Pham Minh Chinh today [February 18].

According to Timmermans, the EU gives high priority to its comprehensive partnership with Vietnam, and seeks greater cooperation with the country in climate change response that is in line with the commitments made during the COP26.

For his part, Prime Minister Chinh thanked EU for its timely support for Vietnam in terms of medical equipment and vaccines, in turn helping the country to soon recovery and reopen the economy.

Chinh highlighted economic cooperation as a highlight in bilateral relations, with two-way trade turnover rising by 14.5% year-on-year in 2021 to US$57 billion amid Covid-19 pandemic.

He called for the EU and its members to create favorable conditions for Vietnam’s exports to the EU, especially as both are gradually reopening socio-economic activities.

Following the conclusion of COP26, Chinh said Vietnam is determined to realize the net zero-carbon emission by 2050, for which the first step was to form a national steering committee on realizing the 2050 target.

Another step is to soon finalize regulations and plans to promote renewables, at the same time to phase out coal powers, he added.

EC Vice President Timmermans expressed his impression to Vietnam’s strong commitments at the COP26, which showed Vietnam’s leading role in the region in climate change response.

Timmermans added Vietnam is willing to provide experience and technical assistance for Vietnam to realize its COP26 commitments.

Removal of EC’s yellow-card fishing warning expected

On the same day, Timmermans had a meeting with Deputy Prime Minister Le Van Thanh.

Vietnam’s Deputy Prime Minister suggested the EU should speed up the approval process for the Vietnam-EU Investment Protection Agreement (EVIPA), seen as a key factor to further drive up bilateral economic cooperation.

Deputy Prime Minister Le Van Thanh and the EC Vice President. Source: VGP

In terms of agricultural cooperation, Thanh noted Vietnam has gained major improvements in addressing EC’s recommendations regarding illegal, unreported, and unregulated fishing (IUU), requesting the bloc to lift its yellow card against Vietnam's fisheries export and assist the country in enhancing fishing management capability for sustainable development.

EC Vice President Timmermans welcomed Vietnam’s efforts against the IUU fishing, noting the EU would soon send a delegation to Vietnam to review the issue and make a conclusion accordingly.

Thanh also mentioned Vietnam’s strong commitments in fighting climate change, including the transition towards a low-carbon economy and the phasing out of coal power/methane.

Overview of the meeting.

“Vietnam would continue to promote climate-resilience infrastructure system and energy transition to realize its commitments made at the COP26,” Thanh said and suggested the EU support Vietnam to soon achieve the net-zero carbon emission by 2050.

The deputy prime minister also expected the two sides to work on the development of a carbon market in Vietnam, promote clean energy development, forest preservation, and climate change adaptation.

Both leaders agreed on the necessity for the two sides to press on cooperation in politics-diplomacy, trade, investment, agricultural development, environment, energy, security-defense.

On the global issues, Vietnam and the EU shared the same view on further support from the global community for developing countries in terms of finances, technologies, and capabilities to reduce greenhouse emissions and tackle climate change.

EU is currently one of Vietnam’s key economic and development partners. The bloc remains Vietnam’s biggest non-refundable aid donor, the third-largest export market, and the sixth-largest investor.