Vietnam is ready to work with the EU to build a green transition cooperation model.

Foreign Minister Bui Thanh Son said Vietnam maintains its commitment to combating climate change and is ready to work with the EU to promote green transition.

Foreign Minister Bui Thanh Son attended the third Indo- Pacific Ministerial Forum (IPMF-3) in Brussels, Belgium on February 2. The event was attended by foreign ministers from more than 70 countries, including 27 EU member states and Indo-Pacific countries, as well as leaders of many regional and international organizations, according to a statement from the Ministry of Foreign Affairs.

In his keynote speech at the opening of the roundtable discussion themed "Green Transition - Partnership for a Sustainable Future", Minister Bui Thanh Son reaffirmed Vietnam's strong commitment to combating climate change and green transition, from COP-26 to becoming one of the first three countries to establish the Just Energy Transition Partnership (JETP).

The Minister emphasized that Vietnam is ready to work with the European Union (EU) to build a typical cooperation model on green transformation, supporting developing countries, including Vietnam, to narrow the gap in finance, technology and human resource training.

Foreign Minister Bui Thanh Son attends IPMF-3 in Brussels, Belgium, February 2. Photo: Ministry of Foreign Affairs — Foreign Minister Bui Thanh Son (center) attends IPMF-3 in Brussels, Belgium, February 2. Photo: *BNG*

Regarding new green regulations, especially the EU-initiated Carbon Border Adjustment Mechanism (CBAM) (a mechanism for imposing carbon taxes on imported goods), the Minister noted that regulations and policies on green transition in developed countries need to create opportunities for growth, not create new barriers to trade, which is a growth driver for many developing countries.

Therefore, the Minister proposed that the EU support Vietnam and developing countries in adaptation through sharing experiences and good practices, coordinating policy development, trading mechanisms as well as carbon pricing.

An EU initiative since 2022, the IPMF is held annually for foreign ministers of EU and Indo- Pacific countries to share experiences and assess the prospects for cooperation between the two sides. Priority areas of cooperation so far focus on inclusive and sustainable prosperity, blue transition, ocean management, partnerships and digital governance issues, connectivity, defence and security, and human security.

In December 2022, Vietnam and a group of international partners, including the UK, the European Union, France, Germany, the US, Italy, Canada, Japan, Norway and Denmark, adopted JETP. This is one of the most advanced financial mechanisms designed to transfer money from rich economies to some developing countries, aiming to eliminate fossil fuels. The partners have committed to providing $15.5 billion in support to Vietnam over 3-5 years.

Vu Hoang

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