Vietnam Economic Times March, 23 2026

Dear readers,

As part of the official visit to Vietnam by European Council President António Costa, Vietnam and the EU issued a joint statement on January 29 officially upgrading their bilateral relations to a Comprehensive Strategic Partnership. This is an important milestone in a journey of connection between the two sides that has spanned over 35 years, since the establishment of diplomatic relations in 1990.

The joint statement identified economic cooperation as an important driving force for Vietnam - EU relations, with science, technology, and innovation serving as a pillar of bilateral cooperation.

Over the past 35 years and more, cooperation in all areas between Vietnam and the EU, especially economic cooperation, has been increasingly strengthened, with growth effectiveness clearly quantified, particularly since the EU-Vietnam Free Trade Agreement (EVFTA) came into effect on August 1, 2020. As a result, bilateral trade turnover increased from $55.4 billion in 2020 to $68.4 billion in 2024 and then to $73.8 billion in 2025. In terms of exports, Vietnam recorded turnover of $40.1 billion in 2020, which then rose to $56.2 billion in 2025, with the trade surplus in Vietnam’s favor increasing from $24.8 billion in 2020 to $38.5 billion in 2025.

The effectiveness of Vietnam - EU economic cooperation is also reflected in the investment capital EU enterprises have poured into Vietnam. As of the end of September 2025, the EU had 2,743 active projects in Vietnam, with total registered capital of nearly $32 billion.

The EU is currently Vietnam’s fourth-largest trading partner and sixth-largest investor, while Vietnam is the EU’s largest trading partner in ASEAN and the EU is Vietnam’s third-largest export market globally.

According to the Delegation of the European Union to Vietnam, since 1990, Vietnam and the EU have built a partnership rooted in trust, shared values, and a clear commitment to progress, cooperating across trade, sustainable development, innovation, governance, and global security.

Building on this strong foundation, the first EU-Vietnam Global Gateway Business and Investment Forum, with the theme “Investing Together in a Sustainable Future,” will be held in Hanoi on March 24 by the European Union Delegation to Vietnam in coordination with the Foreign Investment Agency at the Ministry of Finance of Vietnam and the European Chamber of Commerce in Vietnam (EuroCham), with the aim of facilitating high-level dialogue and creating new avenues for shared prosperity.

The Forum is expected to gather together 500 delegates and experts, including Mr. Jozef Síkela (European Commissioner for International Partnerships), Vice President of the European Investment Bank Nicola Beer, and Vietnamese Government officials, alongside key business leaders from both sides, who will focus primarily on green energy and sustainable transport, identified as sectoral priorities under Global Gateway, initiated by the EU, to support Vietnam’s green and digital transitions and create stronger ties between the two economies.

With Vietnam Economic Times / VnEconomy acting as media sponsor for the Forum, our Cover Story in this edition focuses on Vietnam - EU relations since 1990, especially their cooperation in economics, trade, and investment, with many important milestones recorded over the past 35 years and more, particularly the positive impacts of the EVFTA and the newly-upgraded Comprehensive Strategic Partnership, which open up many opportunities for bilateral cooperation, especially for enterprises from both sides. The EU-Vietnam Global Gateway Business and Investment Forum will certainly contribute to shaping and unlocking cooperative potential, as the EU, through its Global Gateway initiative, is committed to supporting Vietnam by mobilizing high-quality investments and creating market opportunities to strengthen sustainable infrastructure, promote innovation, and deliver an enabling environment for long-term growth and employment.

Warmest regards.

Dr. CHU VAN LAM
CHAIRMAN OF THE EDITORIAL BOARD