Vietnam, Lithuania agree to expand economic and political cooperation

Vietnamese leadership has expressed commitment to strengthening relations with Lithuania, signaling intent to develop cooperation across economic, political and cultural dimensions. The move reflects broader efforts to diversify Vietnam's international partnerships and engage with European nations.

On the economic front, officials have called for both countries to fully capitalize on the EU-Vietnam Free Trade Agreement (EVFTA) to boost bilateral trade and investment flows. The agreement, which entered into force in 2020, provides a framework for reducing tariffs and facilitating commerce between Vietnam and the European Union.

Vietnam has also proposed advancing negotiations on a double taxation avoidance agreement with Lithuania, a measure designed to prevent companies from being taxed twice on the same income and encourage cross-border business activities. Such an accord would remove barriers for investors and entrepreneurs operating in both countries.

Both nations have emphasized the importance of their traditional friendship and expressed openness to exploring collaboration in new fields. Officials indicated that structured dialogue and regular high-level exchanges would help identify additional opportunities for cooperation and address matters of mutual interest.