Top Vietnamese legislator's Finland visit expected to boost bilateral ties

The visit is of significance and is expected to promote the Vietnam – Finland traditional friendship and extensive partnership in various areas.

Since the establishment of diplomatic ties on January 25, 1973, Vietnam - Finland relations have thrived in many spheres. Both sides offered mutual support at regional and global forums. Two-way trade has increased steadily over the past years.

They also facilitated the exchange of delegations at all levels and the two countries’ leaders also held meetings on the sidelines of international conferences.

The signing of a Framework Agreement on projects funded by Finland’s Public Sector Investment Facility (PIF) scheme also created a framework for the implementation of projects using official development assistance (ODA) and concessional loans provided by the Finnish Government.

Finland's educational model is being adopted at the Vietnam-Finland International School. More than 2,000 Vietnamese students are now studying and developing professional skills in the European country.

Finland also approved a report on the evaluation of transition process in Vietnam in June 2021, marking the transition of bilateral cooperation model from development cooperation to a stage of mutually beneficial cooperation.

Vietnam is a gateway for Finland to develop relations in Southeast Asia. The two sides shared views on many international issues. Finland supported Vietnam's foreign policy. Moreover, Vietnam's role in the Association of Southeast Asian Nations (ASEAN) and the United Nations Security Council is also important to the European country.

Economic-trade-investment is top priority fields of Finland in its relations with Vietnam. Two-way trade hit 337.4 million USD last year and 348.8 million USD by the end of July.

Finland is now home to 29 valid projects with a total registered capital of 23.632 million USD, ranking 70th out of 140 countries and territories directly investing in Vietnam.

On March 23, 2017, the Finnish Foreign Ministry announced a new national strategy on bilateral development cooperation with Vietnam for the 2016-2020 period with a goal of gradually replacing development cooperation with mutually beneficial cooperation.

During the visit, NA Chairman Vuong Dinh Hue is scheduled to pay a courtesy call on Finnish President Sauli Niinistö, hold talks with Speaker of the Finnish Parliament Anu Vehvilainen and meet with Finnish Prime Minister Sanna Marin.

During these meetings, he is expected to discuss bilateral ties and areas of strategic cooperation with the Finnish leaders, orientations to boost collaboration between the two legislatures within bilateral and multilateral frameworks, as well as issues of regional and global concern such as climate change response and sustainable development promotion.  

The two sides will also look into measures to fully tap investment and trade opportunities from the European Union – Vietnam Free Trade Agreement, control the COVID-19 pandemic in tandem with post-pandemic recovery, economic transformation, including the supply and transfer of vaccines and vaccine production technology, medicines and medical equipment to Vietnam.

The Vietnamese side is planning to propose Finland soon approve the EU-Vietnam Investment Protection Agreement (EVIPA) and continue support to Vietnam in strengthening its comprehensive cooperation with the EU.

A number of investment promotion, business-to-business connectivity activities, and meetings with the Vietnamese community in Finland are also planned./.