Trade pictureViet Nam is the EU’s 17th biggest trade-in-goods partner and the EU’s largest trading partner in goods in ASEAN, with a total trade flow amounting to €67 billion in 2024 (and an EU deficit of €42.5 billion). THe EU’s main imports from Viet Nam are machinery and appliances (accounting for half of total imports), footwear and hats, and textiles. The EU’s main exports to Viet Nam are chemicals, machinery and appliances, and transport equipment. Trade in services added another €8.5 billion in 2023 (with an EU surplus of €2.1 billion). In 2023, EU foreign direct investment (FDI) flows with Viet Nam reflected a continued strong investment relationship. EU FDI outflows to Viet Nam rose slightly from €1.3 billion in 2022 to €1.4 billion in 2023, highlighting sustained interest from EU investors. In terms of FDI stocks, the EU remained a major investor in Viet Nam with an outward stock of €10.8 billion. 

The EU and Viet Nam

The trade agreement between the EU and Viet Nam entered into force on 1 August 2020. The Investment Protection Agreement will enter into force after ratification by all EU Member States. The agreements with Viet Nam are the second (following those with Singapore) to have been concluded between the EU and a Southeast Asian country, and represent stepping-stones to a greater engagement between the EU and the region.

The trade and investment agreements develop the commercial dimension of bilateral relations between the EU and Viet Nam that find their foundation and are governed by the EU-Viet Nam Framework Agreement on Partnership and Cooperation (PCA) that entered into force in October 2016.

Viet Nam and ASEAN

Viet Nam is one of the 10 members of the Association of Southeast Asian Nations (ASEAN) and has become the EU’s most important partner in the region for trade in goods. It is the EU’s second-most important ASEAN partner for trade in goods and services combined (after Singapore). An increasing number of European companies are establishing in the country to set up hubs to serve the Mekong region.

More information on ASEAN

Committees and Dialogues

The EU and Viet Nam meet regularly to discuss issues and best practices and oversee the proper functioning of the Agreement.

Technical committee meetings – agendas and reports

Trading with Viet Nam