Vietnam and the Republic of Lithuania established diplomatic relations in 1992, following Lithuania’s restoration of independence. Since then, the two countries have maintained friendly ties and cooperation across various fields.

The two sides cooperate well on the international stage, especially at the United Nations and the Asia-Europe Meeting (ASEM).

In recent years, economic cooperation between Vietnam and Latvia has seen strong growth, with trade turnover reaching US$236 million between January – November 2024.

Vietnam mainly exports agricultural and seafood products, rattan and bamboo goods, wood, textiles, and footwear to Latvia, and primarily imports rubber, wood, textile and footwear raw materials, machinery, and equipment from the European country.

Currently, Latvia is Vietnam’s largest economic partner in the Baltic region, while Vietnam is also Latvia’s largest trading partner in the ASEAN region. Both countries still have great potential for cooperation and development, especially in agro-forestry-fishery exports and imports, pharmaceuticals, and labour.

Vietnamese PM meets with Lithuanian counterpart in Davos

Prime Minister Pham Minh Chinh had a meeting with his Lithuanian counterpart Gintautas Paluckas in Davos on January 21 (local time) on the occasion of the 55th Annual Meeting of the World Economic Forum (WEF) and bilateral activities in Switzerland.