Key Facts
• January 29: EU President Costa to meet Vietnamese government leaders in Hanoi.
• EU and Vietnam to upgrade diplomatic relations to highest level, matching US, China, Russia.
• Vietnam holds rare earth and gallium deposits, mostly untapped due to technical challenges.
• Vietnam is a major tungsten supplier used in defense and electronics; Western countries wary of Chinese influence.
• Joint statement promotes trade and investment in sustainable mining and processing of critical minerals.
• Semiconductors prioritized for supply chain cooperation; Intel and Amkor operate packaging and assembly in Vietnam.
• Cooperation to expand in 5G and satellite communications for reliable infrastructure.
• EU to consider transferring non-sensitive technology and know-how to Vietnam for security cooperation.
• EU countries interested in investing in Vietnamese infrastructure, including railways.
• Costa warns against “coercive trade practices” and challenges to sovereignty and international law.
• Joint statement reaffirms support for rules-based international order and WTO strengthening.
• Emphasis on respecting territorial integrity; calls for just, sustainable peace in Ukraine amid Russian invasion.
• Agreement to deepen maritime security cooperation amid South China Sea territorial disputes with China.
Summary
EU President Costa’s visit to Vietnam marks a significant step in enhancing bilateral cooperation in critical minerals, semiconductors, and infrastructure. Both parties plan to elevate diplomatic ties to the highest level, reflecting strategic importance amid global geopolitical tensions involving the US, China, and Russia. Vietnam’s rich but underdeveloped rare earth and gallium resources, along with its role as a key tungsten supplier, present opportunities for sustainable trade and investment. Semiconductor supply chains, supported by companies like Intel and Amkor, are a priority, alongside expanding reliable 5G and satellite communication infrastructure. Security cooperation will be strengthened through potential technology transfers. The EU also shows interest in infrastructure investments, including railways. Costa’s statements highlight concerns over coercive trade and sovereignty violations, reaffirming commitment to international law and WTO rules. The joint focus on territorial integrity includes support for peace in Ukraine and maritime security cooperation to stabilize the South China Sea, underscoring the visit’s broader geopolitical significance.
