The EU and Vietnam are to elevate ties during a visit to Hanoi by European Council President Antonio Costa on Thursday, an EU official said, as both sides seek to expand international partnerships amid disruptions from US tariffs.
The visit comes on the heels of To Lam’s reappointment as Vietnam’s top official, potentially making Costa the first leader of a major power to meet Lam since the ruling Communist Party on Friday last week appointed him for a new term as general-secretary.
The elevation of ties to Vietnam’s highest level has been planned for months and was delayed largely because of schedule complications, the official said.
Photo: Reuters
Vietnam’s relations with the US worsened last year after US President Donald Trump imposed tariffs, despite the upgrade of bilateral ties inked by the previous administration.
The upgrade of EU ties is expected to generate more cooperation in multiple fields, including research, technology, energy and critical minerals, the official cited a draft joint statement as saying.
Vietnam has significant, but often little-exploited deposits of rare earths, gallium and tungsten.
The Southeast Asian trade-reliant nation is a major link in global supply chains, especially for electronics, clothing and footwear.
It has a string of free-trade agreements with multiple partners, including the EU.
The EU has repeatedly criticized Hanoi’s implementation of the free-trade agreement, which has boosted Vietnam’s surplus with the 27-nation bloc since it came into force in 2020.
The EU deficit with Hanoi stood at 42.5 billion euros (US$50.26 billion) in 2024.
EU officials accused Hanoi of hampering EU imports with multiple non-tariff barriers, but Brussels has so far taken limited action to address the situation.
Facing tariffs from the US, the EU has prioritized improving ties with economic partners and expanding trade agreements, including recently with South American nations of the Mercosur bloc.
Costa is to visit India before Vietnam, where, together with European Commission President Ursula von der Leyen, he intends to hold trade talks with Indian Prime Minister Narendra Modi, a schedule published by the EU Council showed.
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