More room for cooperation between Việt Nam and the Netherlands

Deputy Minister of Foreign Affairs Lê Thị Thu Hằng speaking at the event. Photo courtesy of MOFA

HÀ NỘI – The cooperation between Việt Nam and the Netherlands has yielded very positive results across various aspects. However, there is still much potential for collaboration between the two countries, especially in trade and investment.

On Friday, in Hà Nội, the Ministry of Foreign Affairs organised the seminar “50 years of Việt Nam-Netherlands diplomatic relations: Achievements and Prospects.”

Speaking at the seminar, Lê Thị Thu Hằng, Deputy Minister of Foreign Affairs, stated that after 50 years of diplomatic relations, Việt Nam and the Netherlands had achieved positive outcomes. The high-level leadership of both nations affirmed the relationship as “an exemplar of a dynamic, effective, and practical partnership.”

Việt Nam and the Netherlands established a Comprehensive Partnership in 2019 and built a unique and effective model. This comprehensive partnership is based on two strategic pillars: “Strategic Partner in Sustainable Agriculture and Food Security” and “Strategic Partner in Climate Change Adaptation and Water Management.”

Providing information at the seminar, Lê Thị Thanh Minh, Head of the Department of European-American Markets (Ministry of Industry and Trade) informed that in recent years, the Netherlands had consistently been one of Việt Nam’s leading trading partners in the EU.

Currently, the Netherlands is Việt Nam’s sixth-largest export market globally and second in the EU (after Germany). Conversely, Việt Nam is the second largest export market in ASEAN and 15th globally for the Netherlands.

Over the years, Việt Nam has consistently been a net exporter to the Netherlands. Key export items to the Netherlands include phones, electronics, textiles, footwear, agricultural products, and seafood. Meanwhile, imports from the Netherlands consist of machinery, equipment, components, pharmaceuticals, chemicals, and dairy products.

The Netherlands is also the largest investor from the EU in Việt and many Dutch products have been ever-present in the daily lives of Vietnamese, such as “Dutch Lady” milk, Heineken, Philips, and Unilever.

According to Trần Toàn Thắng, Head of the International Cooperation Department, Institute of Development Strategy (Ministry of Planning and Investment), most Dutch investment projects in Việt Nam are of moderate and small scale but are carried out by large corporations and operate effectively.

Conversely, Việt Nam currently has nine investment projects in the Netherlands, covering areas such as the import and distribution of telecommunications equipment, automobiles, components, provision of services related to electric vehicle batteries, e-commerce, food services, agricultural and aquatic product exports.

The prospects for cooperation are promising. According to Thắng, the EU-Việt Nam Free Trade Agreement (EVFTA) presents many collaboration opportunities for Việt Nam and the Netherlands.

Sharing insights on the prospects for cooperation between Việt Nam and the Netherlands, Hằng emphasised that Việt Nam highly valued the pioneering role of the EU, including the Netherlands, in promoting the development of a global green and circular economy, contributing to turning current challenges into opportunities for the world economy.

“This is also an area where Việt Nam implements the ‘new vision, new thinking, new determination, new action.’ In this regard, Việt Nam’s consistent development perspective is green and sustainable, harmonising economic development with environmental issues,” said Hằng

Opening up some directions for future cooperation between Việt Nam and the Netherlands, Lê Thị Thu Hằng highlighted the need for research and proposals for initiatives, ideas, and projects with a focal point, serving as successful models for green transformation.

Hằng also suggested that both sides strengthen cooperation in research and development to make Việt Nam a centre of innovation, a research hub in the region for green transformation, and the formation of a green hydrogen value chain in Việt Nam.

Moreover, Dutch and Vietnamese businesses needed to enhance cooperation, particularly by increasing investment in green and sustainable areas prioritised by Việt Nam, such as high technology, information technology, supporting industries, smart agriculture, renewable energy, infrastructure construction, training high-quality human resources, and innovation.

In addition, the business communities of both sides needed to discuss measures to fully utilise the EVFTA, thereby reinforcing and deepening the bilateral trade relations between Việt Nam and the EU in general and Việt Nam and the Netherlands in particular. VNS