Update: 18:06 | 16/12/2022
Vietnam welcomes the European Union (EU)’s commitment to mobilize 10 billion EUR (10.6 billion USD) by 2027 for investment in infrastructure projects in the Association of Southeast Asian Nations (ASEAN), Foreign Ministry deputy spokeswoman Pham Thu Hang stated at the ministry’s regular press conference on December 15.
The decision is intended to support the Global Gateway strategy through cooperation projects, and kick start the Sustainable Connectivity Team Europe Initiative in the ASEAN region.
At the ASEAN-EU Business Summit.
Hang said the EU’s decision will contribute to promoting economic and trade cooperation and stabilising the supply chain towards reaching the ASEAN-EU Free Trade Agreement, and strengthening connectivity through the implementation of the joint statement on connectivity in 2020 and the ASEAN-EU Comprehensive Air Transport Agreement, while narrowing the economic development gap in the region.
It will also help with ASEAN’s response to climate change, promote digital and energy transformation, manage disasters, protect the environment and biodiversity, and fight illegal, unreported and unregulated (IUU) fishing, she added.