Global look

/ February 12, 2021

Looking ahead to robust ties between Mexico and Vietnam

The Hanoitimes - Celebrating the 45th anniversary allows the two nations to reflect upon the past as it is a great opportunity to look ahead to the future of ties. Mexico and Vietnam celebrated in 2020 the 45th anniversary of the establishment of diplomatic relations. During this time, ties have continued to broaden and strengthen: both countries have enhanced their political dialogue, expanded their economic and trade links, promoted technical and cultural exchanges. As topics in the bilateral agenda have diversified, so have the coincidences on a wide array of topics in the global agenda. Mrs. Sara Valdes Bolaño, Ambassador of Mexico to Vietnam, attended the 2020 International Food Festival held in Hanoi. Photo: Embassy of Mexico in Hanoi Political dialogue between our relevant authorities is outstanding. A mechanism providing institutional framework, overall direction and purpose to the relationship was established in 2002 and meets regularly in Hanoi and in Mexico City. This dialogue extends to multilateral fora, such as the United Nations Security Council where both countries participate as non-permanent members in 2021, sharing their commitment to the rules-based multilateral system, as well as common interests and values, i.a.: the promotion of peace and security and the implementation of the 2030 Agenda for sustainable development. In 1993 bilateral trade was US$10,700 whereas in 2019 it reached US$6.275 billion, according to the Mexican government’s data. The Comprehensive and Progressive Transpacific Partnership Agreement (CPTPP) in force since 2019 is the cornerstone of our economic ties. A joint committee to promote new trade, business and economic cooperation opportunities was established in 2016. Cultural and educational exchanges have gradually increased over the years; Mexican artistic troupes have participated regularly at the Hue Festival; Mexican and Vietnamese artists and creators have had a chance to visit each …

/ August 12, 2020

PM expects Vietnam to remain Samsung’s global strategic production hub

The Hanoitimes - Vietnam’s effective measures against Covid-19 has been instrumental for Samsung Vietnam to maintain positive business performance, said Samsung Vietnam’s CEO Choi Joo Ho. Prime Minister Nguyen Xuan Phuc has expressed hope Vietnam will remain Samsung’s global strategic production hub, especially as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU – Vietnam Free Trade Agreement (EVFTA) have become effective. Prime Minister Nguyen Xuan Phuc (right) and CEO of Samsung Vietnam Choi Joo Ho. Photo: VGP The Vietnamese government is committed to creating favorable conditions for South Korean investors, including Samsung, to stabilize production and expand operations in Vietnam in the coming time, Mr. Phuc said in a meeting with CEO of Samsung Vietnam Choi Joo Ho on August 11. Mr. Phuc highly regarded the South Korean tech giant’s operations in Vietnam, particularly its realization of commitments to the country, including the construction of Samsung’s largest R&D center in Southeast Asia in Hanoi with an investment of US$220 million. The Vietnamese prime minister welcomed Samsung’s efforts to maintain its business targets for this year, which would contribute to Vietnam’s dual target of containing the pandemic and boosting economic growth. Vietnam continues to encourage projects that apply modern and clean energies with high spillover effects, commit to technology transfer, and help domestic firms further integrate into global supply chains. At the meeting, Mr. Choi said Vietnam’s effective measures against the Covid-19 pandemic has been instrumental for Samsung Vietnam to maintain positive business performance. Mr. Choi said Samsung looks forward to receiving support from the Vietnamese government so that the corporation could make greater contributions to Vietnam’s economic growth. In 2008 - 2018, Samsung increased its investment in Vietnam from US$670 million to over …

/ July 9, 2020

US – Vietnam Bilateral Trade Agreement opens door for Vietnam global integration

The Hanoitimes - Right after the signing of BTA, Vietnam’s parliament initiated a process of revising more than 170 laws to ensure the compatibility of its legislation to the deal and international laws. With the US being the founding member of the World Trade Organization (WTO), the signing of the Vietnam-US Bilateral Trade Agreement (BTA) in 2000 was a significant step for Vietnam to initiate and deepen international economic integration, according to Nguyen Dinh Luong, Vietnam’s former chief negotiator for the BTA. US President Bill Clinton welcomed Vietnam's Chief Negotiator for BTA Nguyen Dinh Luong at the White House on July 13, 2000. “Right after the signing of the BTA, Vietnam’s National Assembly started a process of revising more than 170 laws to ensure the compatibility of its legislation to the BTA and international laws,” Luong said at a talk show on July 8 at Thuy Loi University, marking the 25 th anniversary of the establishment of Vietnam – US diplomatic relations and 20 th anniversary of the signing of the BTA. “The process had no doubt sped up Vietnam’s shift from a centrally planned economy to a market-based one, which was initiated since the “doi moi” (reform) in 1986, and laid the ground for the country’s economic development as today,” Luong asserted. Luong looked back the rough path that led to the BTA between Vietnam and the US, saying the relations between the two countries were a unique one that went from foes to friends, and later partners in various fields, including economy, trade, investment and even security. Vietnam and the US are now supportive of each other in many international forums and share the same view in major issues, Luong said, but apparently, it was not so when the two countries normalized the diplomatic relations in 1995. “A lack of trust between the two sides was a major stumbling block that caused the BTA negotiation process to last for nearly five years,” Luong said. …