On October 18, General Secretary of the Communist Party of Vietnam and President To Lam received Liechtenstein Prime Minister Brigitte Haas at the Office of the President.
To Lam welcomed Haas on the first official high-level visit by a Liechtenstein prime minister to Vietnam since the two countries established diplomatic relations in 2008. He said the visit, the signing of a double taxation avoidance agreement between Vietnam and Liechtenstein, and the Vietnam EFTA free trade agreement would provide a basis for broader relations.
Haas said she was honored to be the first Liechtenstein prime minister to visit Vietnam. She said closer political ties would support economic development and help companies in both countries expand trade and investment exchanges. She also expressed a wish to exchange development experience with Vietnam.
Haas said Liechtenstein considers Vietnam an important partner in Southeast Asia and wants to strengthen long-term economic, trade and investment cooperation. She said the two agreements signed with Vietnam would support further relations in areas of common interest.
The two leaders agreed to expand high-level and other contacts to build political trust and develop economic cooperation. They agreed to explore cooperation in finance, science and technology, precision industrial production and high-quality human resources training, areas where Liechtenstein has strengths and Vietnam has needs.
The Liechtenstein prime minister said her country was ready to share methods and models that help improve production efficiency and economic productivity.
To Lam proposed that the two sides complete the procedures needed for the Vietnam EFTA free trade agreement to take effect. He also called for stronger business links, wider market access for each other's goods and more Liechtenstein investment in Vietnam in green finance, high technology, precision engineering, automation and medical equipment. The two countries also agreed to promote cultural and artistic exchanges.
Vietnam and Liechtenstein discuss free trade agreement ratification
The same day, Vietnamese Prime Minister Le Minh Hung held a welcoming ceremony and talks with Haas.
Le Minh Hung said Vietnam values its relationship with Liechtenstein and its strengths in science and technology, innovation, finance and highly skilled human resources. He said these areas could complement Vietnam's development priorities and create opportunities for stronger links between Vietnam, ASEAN and EFTA.
The Vietnamese prime minister welcomed the signing of the Vietnam EFTA free trade agreement after 14 years of negotiations and 21 official rounds, along with the double taxation avoidance agreement with Liechtenstein. He said the agreements would create better conditions for businesses, reduce tariffs and trade barriers, widen market access and support investment flows.
Le Minh Hung asked Liechtenstein to share more experience with Vietnam in developing and managing investment funds, banking, green finance, capital markets and international asset management.
On trade and investment, he called on both sides to keep facilitating market access for each other's goods, including Vietnamese export strengths such as seafood and textiles.
He encouraged Liechtenstein companies to increase investment in Vietnam in high technology, precision engineering, automation, medical equipment and finance, including possible participation in Vietnam's International Financial Centre and capital market.
Haas expressed hope that bilateral relations would expand and that the two sides would make effective use of opportunities created by the new agreements. She described the Vietnam EFTA free trade agreement and the double taxation avoidance agreement as important documents in bilateral relations.
Discussing future cooperation, the two prime ministers agreed to continue exchanges of delegations at different levels, develop cooperation mechanisms and expand work in areas where their interests and strengths complement each other. They will also exchange Liechtenstein's experience in investment fund and asset management, banking, capital markets and securities.
They also agreed to accelerate ratification of the Vietnam EFTA free trade agreement and implement it after it enters into force. The two sides will strengthen cooperation on green transformation, the circular economy, renewable energy, emissions reduction and climate change adaptation.
At the end of the talks, Prime Minister Le Minh Hung witnessed the signing ceremony for the double taxation avoidance agreement between Vietnam and Liechtenstein.
Sources: Thanh Niên
