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Vietnam

Vietnam

In July 2018, the EU and Vietnam agreed on final texts for the EU-Vietnam Free Trade Agreement (FTA) and the EU-Vietnam Investment Protection Agreement (IPA).

Once translated, the Commission will send all EU language versions to the Council and the European Parliament.

The trade and investment agreements in detail

Trade picture

  • The main EU exports to Vietnam are high tech products, including electrical machinery and equipment, aircraft, vehicles, and pharmaceutical products.
  • Vietnam's main exports to the EU are telephone sets, electronic products, footwear, textiles and clothing, coffee, rice, seafood, and furniture.
  • The EU is one of the largest foreign investors in Vietnam. In 2017, EU investors committed €1.6 billion in Foreign Direct Investment, reaching a total investment stock of €19.2 billion. The largest sector of investment by the EU is Industrial Processing and Manufacturing (€6.66 billion).

EU-Vietnam: Trade in goods

Trade in goods 2015-2017, € billions
Year EU imports EU exports Balance
2015 30.0 8.4 -21.6
2016 33.1 9.5 -23.6
2017 37.0 10.6 -26.4

EU-Vietnam: Trade in services

Trade in services 2014-2016, € billions
Year EU imports EU exports Balance
2014 1.6 1.5 -0.1
2015 1.9 1.6 -0.2
2016 1.7 1.9 0.2

EU-Vietnam: Foreign direct investment

Foreign direct investment 2016, € billions
Year Inward stocks Outward stocks Balance
2016 0.1 8.3 8.1

Date of retrieval: 16/04/2018

More statistics on Vietnam

EU and Vietnam

The EU and Vietnam have concluded trade and investment agreements, which represent stepping stones to a greater engagement between the EU and the region.

The trade and investment agreements contain legally-binding links to the Partnership and Cooperation Agreement (PCA) that entered into force in October 2016 and governs the overall relationship between the EU and Vietnam.

Vietnam has trade preferences with the EU under the Generalised Scheme of Preferences.

Vietnam and ASEAN

Vietnam is one of the 10 members of the Association of Southeast Asian Nations (ASEAN) and has become the EU's second-most important trading partner in the region after Singapore.

ASEAN represents the EU's third-largest trading partner outside Europe (after the US and China).

Getting EU exporters better access to the ASEAN market is a priority for the EU. Negotiations for a region-to-region trade and investment agreement between the EU and ASEAN were launched in 2007. These talks were then paused by mutual agreement in 2009 to give way to a bilateral format of negotiations. These bilateral trade and investment agreements were conceived as building blocks towards a future region-to-region agreement.

More information on ASEAN

Trading with Vietnam