Finance Minister Vuong Dinh made the statement at the ninth Vietnam-EU Inter parliament meeting in Brussels on December 5.

He said the bloc makes up a considerable proportion of Vietnam’s total trade. It is Vietnam’s third largest trade partner and the second biggest importer. In turn, the Southeast Asian nation imports essential consumer goods and production commodities from the EU.

Strengthening Vietnam-EU economic links will offer opportunities for both sides, said Hue.

He introduced the Vietnamese government’s measures to rein in inflation, cut public investments, limit the import of luxury products and address public debts.

He said the Vietnam National Assembly recently approved a resolution on economic restructuring, targeting public investment, the financial and banking system, and State-owned enterprises, with a particular focus on State corporations and economic groups.

The move will help speed up the implementation of Vietnam-EU agreements on economic, investment and trade cooperation, said Hue.

The Minister proposed that the EU show more specific and substantial commitments to the Association of Southeast Asian Nations (ASEAN) and Vietnam in particular.

(VOV)