Strengthening friendly relations and multifaceted co-operation between Vietnam and Ireland

The Vietnamese people have been impressed by the comprehensive achievements Ireland has made in recent years. Ireland officially escaped from the public debt crisis in late 2013, resulting in a rapid economic recovery and recording the highest growth rate in the European Union, at 5.2% in 2014 and 7.8% a year later. Ireland is currently seen as one of the world's leading nations in terms of education and training, startups and the business environment. The country is pursuing a foreign policy of peace and friendly relations with other countries in accordance with international laws.

In January 2015, Ireland announced a new foreign policy for the first time after nearly 20 years, seeking to make economic diplomacy a significant pillar and expand trade and investment relations with potential markets around the world, including ASEAN nations, focusing on the fields of Ireland's strength, including education and training, financial services, insurance, information technology, green technology, renewable energy, health, pharmaceuticals, food and drinks.

We are happy to see remarkable developments in the increasingly intensive and practical Vietnam-Ireland relations since the establishment of bilateral diplomatic ties in 1996. The two sides have exchanged high-level delegations, creating a strong motivation for the escalation of bilateral relations, most recently with visits made to Ireland by former Prime Minister Nguyen Tan Dung in 2008 and Deputy Prime Minister Hoang Trung Hai in 2009. Former Irish PM Bertie Ahern attended the fifth Asia-Europe Meeting (ASEM 5) in Hanoi in 2004 and Deputy PM / Finance Minister Brian Cowen visited Vietnam in 2008.

The economic, trade and investment ties between the two countries have been registering new developments, with two-way trade reaching US$402 million in 2015 (up 28% against 2014) and US$798 million in the first nine months of 2016 (a three-fold increase compared to the same period of 2015). Ireland is currently operating 17 projects in Vietnam with total investment amounting to US$20.7 million, ranking 67th among 115 countries and territories investing in the Southeast Asian country. A number of Irish firms have been operating in Vietnam since the early 1990s. Energy and power are the two key areas of the bilateral relations at present.

Concerning development co-operation, Vietnam is the only Asian nation among the nine partner countries prioritised for Ireland's development aid. The Irish government approved two Ireland-Vietnam Country Strategy Papers (CSP) for 2007-2010 and 2011-2015. During the two periods, the European country offered US$150 million in non-refundable aid to Vietnam, focusing on the areas of poverty reduction, hunger elimination, support for vulnerable groups and enhancement of economic management capacity.

Vietnam-Ireland ties in education and training have also been growing positively over recent years, with the European side having provided Vietnam with some 185 Masters training scholarships. A community of about 4,000 Vietnamese people in Ireland is integrating well in the native country, acting as a bridge to strengthen relations between the two countries.

The State visit made by Irish President Michael D. Higgins to Vietnam aims to affirm the determination of leaders and the peoples of both countries to deepen Vietnam-Ireland friendly relations and multi-faceted co-operation, and work to facilitate the advantages and potential for bilateral co-operation, particularly in the fields of trade, investment, development co-operation and education and training.