Reuters writes about Vietnam's 'bamboo diplomacy'

Assessing Vietnam's "bamboo diplomacy" policy, Reuters said that it is a dynamic foreign policy approach. This has been raising Vietnam's position.

According to Reuters, Vietnam is playing an increasingly strategic role in the global supply chain. To reinforce this position, in 2021, General Secretary of the Communist Party of Vietnam Nguyen Phu Trong used the image of "strong roots, sturdy trunk, soft branches" of a bamboo tree to describe Vietnam's foreign policy approach of "making more friends, fewer enemies".

Reuters assessed that a series of Vietnam's most important diplomatic agreements have been signed in recent months.

In December 2023, Vietnam and China agreed to build a community with a “shared future” during Chinese President Xi Jinping’s visit to Hanoi. The two countries signed 36 cooperation documents in areas such as transport infrastructure, trade, security, digital economy, and issued a Joint Statement with many extensive commitments.

According to Reuters, China is Vietnam's largest trading partner and an important source of imports for Vietnam's manufacturing sector.

In September 2024, during President Joe Biden's visit to Hanoi, Vietnam and the United States elevated their relationship to a Comprehensive Strategic Partnership, the highest level in Vietnam's foreign policy; and announced closer cooperation in the fields of semiconductors and critical minerals.

The United States, Vietnam's top importer of goods, has pushed for an upgrade in ties to ensure global supply chains are not disrupted.

In November 2023, during Vietnamese President Vo Van Thuong's visit to Tokyo, Vietnam and Japan upgraded their relationship to a Comprehensive Strategic Partnership; pledging to strengthen security and economic cooperation.

With Seoul, Vietnam and South Korea upgraded their relationship to Comprehensive Strategic Partnership in December 2022, focusing on trade, investment, defense and security.

In addition, Reuters said that Vietnam has an important position in the world commodity trading market. Vietnam is currently a member of the Association of Southeast Asian Nations (ASEAN), and has free trade agreements with the European Union, the United Kingdom, Chile and South Korea. In July 2023, Vietnam added Israel to its list of free trade partners.

Vietnam is also a member of broader trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP).