Vietnam-EU trade has nearly tripled within a decade, reaching 67 billion EUR in 2024, despite a turbulent geopolitical environment. Vietnam is now the EU’s largest trading partner in ASEAN, while the EU remains a benchmark market with the highest but most stable standards for Vietnamese exports.
Minister of Public Security General Luong Tam Quang met with Jens Rubbert, Chairman of the EU–ASEAN Business Council (EU–ABC), in Hanoi on November 27, during which he proposed enhanced coordination in detecting and addressing counterfeit, imitation and substandard goods, in order to safeguard the lawful rights and interests of businesses and consumers.
The two sides agreed to expand high-quality investment projects; strengthen supply-chain linkages; promote cooperation in areas related to sustainable development, green transition, and digital transformation; and further improve mechanisms and policies to facilitate both sides' business operations.
Vietnam and the EU promised to broaden collaboration in potential fields, particularly trade and investment, green economy, digital transformation, circular economy, sustainable fisheries, clean energy transition, sci-tech, innovation, infrastructure and climate adaptation, with sci-tech and innovation flagged as a new pillar.
Vietnamese Ambassador to Germany Nguyen Dac Thanh affirmed that the strong turnout clearly reflected not only the robust development of the Vietnam-Germany Strategic Partnership but also the deep interest of European enterprises in Vietnam’s growth potential, at a time when the global political and economic situation is undergoing rapid and unprecedented changes.
Over the past 35 years, the Vietnam - EU partnership has developed on trust, shared values, and a strong commitment to progress, with cooperation covering trade, sustainable development, innovation, governance, and global security, said EU Ambassador to Vietnam Julien Guerrier.
Photo: Prime Minister Pham Minh Chinh
Participants underlined the importance of complying with the EU’s strict standards, stepping up national branding, developing green and clean products aligned with European consumer preferences and, particularly, embedding cultural value and compelling Vietnamese stories in each product.
Despite global trade fluctuations, Vietnam – EU import and export activities remained robust in the first nine months of 2025, with total turnover approaching 55 billion USD, of which exports accounted for nearly 41 billion USD (up 9.3%) and imports 13 billion USD (up 4.3%).
Prime Minister Pham Minh Chinh met with President of the European Council Antonio Costa to discuss bilateral cooperation and issues of mutual concerns on October 27, within the framework of the 47th ASEAN Summit and Related Summits in Kuala Lumpur, Malaysia.
The forum creates a platform for policymakers, businesses, and institutes of both sides to connect and seek measures for promoting investment, innovation, and technology transfer in key areas to shape a digital future of sustainability and prosperity.
76% of EU business leaders see Vietnam as an attractive investment destination. Moreover, 80% of European firms in Vietnam expressed optimism about strong growth prospects over the next five years.
EU Commissioner for energy Jozef Síkela emphasised that the Bac Ai project serves as a key foundation in the joint efforts of Vietnam and the EU to build a green, stable, and sustainable energy system while attracting private investment and promoting green growth.
Vietnam is promoting green growth and deep international integration, diversifying markets, and seizing opportunities from science, technology, innovation, and digital transformation to generate new growth drivers, Deputy Prime Minister Bui Thanh Son said at the high-level session on global affairs within the framework of the 2nd Global Gateway Forum in Brussels, Belgium, on the afternoon of October 9 (local time).
Deputy PM Bui Thanh Son asked the EU to respond to Vietnam’s draft joint statement on the partnership elevation, and accelerate the ratification of the EVIPA by the remaining members.
Malaysia is keen to learn from the European Union’s (EU) experience in establishing a connected energy grid as ASEAN intensifies efforts to realise the ASEAN Power Grid (APG).
The deal was signed in Bali by EU Commissioner for Trade and Economic Security Maros Sefcovic and Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto.
The head of the European Parliament delelegation at AIPA-46 highlighted the effective implementation of the EU – Vietnam Free Trade Agreement (EVFTA), describing it as a model for the EU’s negotiations with other partners.
European investments are gravitating towards emerging sectors such as clean energy, high technology and logistics, with the aim of positioning Vietnam as a regional transhipment hub.
On September 16, at talks with First Vice President of the Belgian Senate Andries Gryffoy, NA Vice Chairwoman Nguyen Thi Thanh affirmed that Vietnam attaches importance to developing friendship and multifaceted cooperation with Belgium. She noted that bilateral ties have grown positively in various fields over the past five decades, especially since the establishment of their strategic partnership in agriculture in 2018.
The EU is among the world’s top three importers of farm produce, but Vietnam holds only a 2% share – still modest compared to its agricultural production capacity and potential, which indicates vast growth potential in the EU if backed by a proper strategy.
Thai Deputy Prime Minister Phumtham Wechayachai stressed the importance of swiftly concluding the Thailand-EU Free Trade Agreement (FTA) to strengthen economic cooperation amidst global economic challenges.
The WTO panel had assessed that Indonesia’s export duty and export levy on palm oil could not be categorised as a subsidy, and that the EU Commission failed to prove a threat of material harm to European biodiesel producers caused by Indonesian biodiesel imports.
Five years on, the EVFTA has proven to be an effective framework for cooperation, helping strengthen trust, boost trade, and deliver tangible benefits for both sides, Guerrier said, stressing that the EU remains committed to partnering with Vietnam on its journey toward a green and sustainable future.
Despite these headwinds, the deal has proven highly effective, pushing Vietnam to the top of the EU’s trading partners in Southeast Asia and the EU as Vietnam’s fourth largest trading partner globally, with electronics, apparel, and footwear driving the country’s ascent in the global value chain.
Since the EVFTA kicked in, trade between Vietnam and the EU jumped 46.5% to 64.6 billion USD through 2024, up from 44.1 billion USD in the prior five years, Vietnam Customs data showed.