Vietnam reaps rewards with “Bamboo diplomacy”: Reuters. (Photo: Tuấn Anh)

According to the article, Vietnam and the US elevated their relationship to a Comprehensive strategic partnership for peace, cooperation and sustainable development, and announced closer cooperation on semiconductors and critical minerals during a visit to Hanoi by US President Joe Biden in September.

The US, which is the top importer of Vietnam's goods, pushed for the upgrade as part of its strategy to secure uninterrupted access to global supply chains.

In addition, Vietnam and Japan in November upgraded their relations to to a Comprehensive strategic partnership for peace and prosperity in Asia and the world during an official visit by Vietnamese president Vo Van Thuong to Japan on the occasion the 50th founding anniversary of their diplomatic relations. Within the visit’s framework, the two countries agreed to boost security and economic cooperation.

Japanese multinationals, including Canon, Honda, Panasonic, and Bridgestone are among the largest foreign investors in Vietnam.

Meanwhile, Vietnam and China earlier this month agreed to build a community with a "shared future" during a state visit to Vietnam by General Secretary of the Communist Party of China (CPC) Central Committee and President of the People's Republic of China Xi Jinping.

During the visit, the two nations signed 36 cooperation documents in areas such as transport infrastructure, trade, security and digital economy, and issued a joint declaration with wide-ranging commitments.

According to Reuters, the diplomatic achievements followed the ones that Vietnam achieved in the previous years. Specifically, in December 2022, Vietnam and the Republic of Korea (RoK) elevated their ties to a Comprehensive strategic partnership with focuses on trade, investment, defence and security.

Vietnam’s diplomatic achievements are also reflected in the economic sector as Vietnam has free trade deals with the EU, the UK, Chile and the RoK.

Vietnam is also a member of wider trade pacts, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP) which includes China and Japan.