Vietnam, Saudi Arabia Poised to Elevate Bilateral Ties

Vietnam and Saudi Arabia are poised to significantly elevate their bilateral relationship, aiming for more effective and substantive cooperation. This move underscores Vietnam's commitment to strengthening ties with Saudi Arabia, one of its most crucial partners in the Middle East. Economic and trade relations between the two nations have seen remarkable progress in recent years. Bilateral trade reached $3.1 billion in 2024, marking a 14.5% increase from the previous year. Both countries have set an ambitious goal to raise this figure to $10 billion by 2030. This enhanced cooperation is part of Vietnam's economic growth strategy under its one-party system, where economic development is a top priority, aiming to boost the domestic economy and improve living standards through active international economic engagement. Vietnam is also actively strengthening its multilateral ties through its engagement in international forums, including the UN General Assembly. The Minister of Foreign Affairs held bilateral meetings with his counterparts from Brunei, Slovenia, Germany, Costa Rica, and Maldives. These discussions highlight Vietnam's efforts to build a broader international network and enhance its diplomatic influence. Furthermore, Vietnam is focusing on technological innovation and sustainable development. Cooperation with Finland is being explored to enhance collaboration in science and technology, innovation, digital transformation, green and circular economies, renewable energy, AI, and semiconductors. This indicates Vietnam's proactive investment and international cooperation in advanced technology sectors crucial for future economic growth, particularly in AI and semiconductors, aligning with its ambition to expand its role in global supply chains. Vietnam continues to contribute to international peacekeeping operations, with the dispatch of the 8th rotation of the Level-2 Field Hospital to the UN Mission in South Sudan (UNMISS), and has received affirmations of UN support. These contributions are part of Vietnam's foreign policy to establish itself as a responsible member of the international community.