Vietnam and Portugal should double their efforts to make economic, trade, and investment cooperation key pillars in their bilateral relations while promoting affiliation in marine economy, navigation, energy and tourism.
Vietnam and Portugal reached agreements on numerous measures to promote their relations on June 3 during a landmark visit by Prime Minister Nguyen Tan Dung, the first made by a Vietnamese Government leader since the two countries established diplomatic ties 40-year ago.
The two PM agreed that the FTA, together with the framework agreement on Comprehensive Partnership and Co-operation Agreement (PCA) between Vietnam and the EU, will be solid ground for the development of long-standing and in-depth ties between Vietnam and the EU in general, and Vietnam and Portugal in particular.
The two leaders expressed their satisfaction at their bilateral economic and trade ties, which continue to grow year by year. Two-way trade increased from US$90 million in 2008 to US$364 million in 2014, but has yet to reach its full potential, they said.
The PMs agreed that they should push economic and trade co-operation and create favourable conditions for enterprises from both sides to do business in an effort to bring bilateral trade to US$1 billion.
“The two sides should make efforts to turn economics, trade and investment ties into an important pillar of our bilateral relationship. We should also establish practical ties in areas suitable with their respective strength and needs, such as the maritime economy, energy, trade and tourism,” said PM Dung.
In the spirit of mutual trust and and understanding, the PM exchanged views on regional and international matters of mutual interests. They asserted the importance of peace, stability, security, safety and freedom of navigation to marine economic co-operation, and shared their concerns about the recent complex development in the East Sea. In discussing regional and international issues, including the recent developments in the East Sea, President Anibal Cavaco Silva affirmed that Portugal advocates the settlement of disputes in the East Sea via peaceful means and dialogues and with respect for international law’s fundamental principles.