Expanding trade cooperation between Vietnam and Europe.

The European market also has a high demand for Vietnamese agricultural products and processed agricultural products. (In the photo: Businesses participating in an international exhibition on vegetables and fruits held in Ho Chi Minh City in March 2025.)

To fully capitalize on the advantages of the EVFTA and this market, businesses need to enhance their adaptability, especially in areas such as green production and traceability of legally sourced products.

Many opportunities in the big market.

The EVFTA, which came into effect on August 1, 2020, opens up opportunities to connect the Vietnamese economy with the 27 EU countries and is considered one of the important agreements to promote the economic development of our country.

According to data from the Vietnam Customs Department, Vietnam's trade turnover with the EU increased from US$48.9 billion before the EVFTA came into effect to nearly US$78 billion in its fifth year, corresponding to an average growth rate of 10.1% per year. Notably, exports to the EU increased at a faster rate (11.7% per year) than imports (6.1% per year), demonstrating the increasingly enhanced competitiveness of Vietnamese goods.

According to the European Chamber of Commerce in Vietnam (EuroCham), 76% of European business leaders currently view Vietnam as an attractive investment destination. 80% of them predict even more favorable conditions over the next five years. EuroCham is committed to continuing to be a reliable partner in promoting trade and building a dynamic and sustainable investment environment in Vietnam.

Deputy Minister of Industry and Trade Phan Thi Thang stated: Although the world has experienced many changes recently, we have still recorded positive growth and shifts in economic and trade cooperation between Vietnam and the EU after the 5-year milestone of the EVFTA coming into effect. Besides increasing trade and investment between the two sides, this agreement also actively supports Vietnam in economic restructuring, institutional reform, and improving the business and investment environment. From there, Vietnam has the opportunity to expand cooperation with the EU in new areas such as: green economy, digital economy, energy transition, and sustainable development…

For Dong Nai, the EU is one of the top five export markets, accounting for nearly 10% of the province's total export turnover. Dong Nai's exports to the EU are currently mainly concentrated in France, Germany, Belgium, the Netherlands, Finland, and Portugal. There are still many other countries where export sales are relatively modest, presenting opportunities for further exploration. Furthermore, the EU has invested in nearly 80 projects in Dong Nai with a total registered capital exceeding US$3 billion. Most of these projects are in the industrial sector, and the majority of products are exported. Therefore, opportunities for domestic businesses to supply supporting products to FDI partners from the EU are wide open; simultaneously creating conditions for businesses to collaborate and participate in global supply chains.

Ms. Nguyen Thi Thanh Tam, a member of the Board of Directors of GC Food Joint Stock Company (GC Food - Ho Nai Industrial Park), shared: "Our company's products are being exported extensively to South Korea, Japan, the Gulf region, and we are actively expanding exports to Europe. This is a large market with a high standard of living, so with our high-quality, green agricultural products, GC Food expects to increase our sales in this region."

Strict European regulations must be followed.

The EU is currently Vietnam's leading trading partner, ranking as Vietnam's third largest export market and fifth largest import market. Conversely, Vietnam is the EU's largest trading partner within ASEAN and ranks among the top 10 suppliers of goods to the EU market. However, Europe is also one of the most demanding markets in the world, especially in the areas of environmental protection and product origin. Goods that enter this market will have broad opportunities to enter other markets, but according to experts, Vietnamese businesses must first improve their capacity to meet these standards.

Dong Nai's industrial products have many opportunities for cooperation with European businesses. Photo: Van Gia

According to Mr. Dau Anh Tuan, Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI), the EU and some member states such as Germany, France, and the Netherlands are tightening regulations to monitor and prevent human rights and environmental risks throughout the supply chain of large businesses in the region. This could create a ripple effect because Vietnamese businesses, as links in the supply chain for European businesses, are all within the affected area and must comply if they want to continue cooperating. Refusing to provide information or failing to meet standards could lead to serious consequences such as order rejection or even exclusion from the supply chain.

Similarly, Mr. Nguyen Duy Hung, Vice Chairman of the Dong Nai Import-Export Association, stated that accessing the EU presents a great opportunity for businesses. The EU is not only a large consumer market but also has a high demand for many types of goods in which Vietnam has a competitive advantage. Dong Nai has been exporting products to this market for many years, but compared to its potential and advantages, the results have not yet met expectations. The important thing is that, given the high quality requirements of the EU, domestic businesses need to strive, cooperate, and collaborate to find opportunities to penetrate this market. At the same time, they need to keep up-to-date with new regulations and policies to help businesses adapt and plan their production and export accordingly.

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