May 28, 2019 / 10:58

Vietnam, Sweden push for EVFTA signing in upcoming weeks

The move would bring mutual benefits for all parties involved, contributing to greater cooperation in investment and trade between Vietnam and Sweden.

Vietnam and Sweden have agreed to push for the signing of EU – Vietnam Free Trade Agreement (EVFTA) and the EU – Vietnam Investment Protection Agreement (EVIPA) in the upcoming weeks, the government portal reported. 
 
Overview of the meeting. Source: VGP.
Overview of the meeting. Source: VGP.
The move would bring mutual benefits for all parties involved, contributing to greater cooperation in investment and trade between Vietnam and Sweden. 

The consensus was reached at the meeting between Vietnam’s Prime Minister Nguyen Xuan Phuc and his Swedish counterpart Stefan Löfven held on May 27 on the occasion of the Vietnamese leader’s visit to Sweden. 

At the meeting, Phuc expressed his delight of visiting Sweden on the 50th anniversary of the establishment of the Vietnam – Sweden diplomatic relations, saying Vietnam gives priority to the long-standing relations between the two countries. 

Stressing that his country considers Vietnam its major partner in the region, Swedish Prime Minister Löfven
presented Phuc a letter of intent on an investment credit worth over US$2 billion in Vietnam.

Both leaders said the trade and investment play an important role in bilateral relation, but still remain at modest level compared to the potential of the two countries. Phuc requested the Swedish government to encourage more investments to Vietnam in the fields of manufacturing, chemicals, electronics, communications, afforestation, waste treatment, pharmacy, automobile supporting industries, among others. 

Meanwhile, Vietnam and Sweden agreed to push for greater cooperation in innovation, smart city, environment, artificial intelligence, internet of things, communication, and healthcare. 

Phuc and Löfven welcome the organization of Vietnam-Sweden Business Forum in Stockholm on this occasion, stressing the importance of promoting deeper cooperation between the two business communities.

Vietnam and Sweden agreed to boost cooperation in regional and international forums such as the United Nations, ASEM, the ASEAN – EU cooperation, as well as joining efforts against global issues for sustainable development. 

They reached a consensus on the importance of the settlement of disputes by peaceful means, ensuring navigation and aviation freedom in line with international law and the 1982 United Nations Convention on the Law of the Sea. 

At the meeting, Phuc extended an invitation to Löfven to visit Vietnam at his convenience. The invitation was gladly accepted.