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EU, Vietnam strategic partners

Jean-Jacques Bouflet, Minister-Counsellor and Head of the Economic and Trade Committee of the EU Delegation to Vietnam stated that the European Union (EU) was a strong strategic partner of Vietnam in all fields from trade, investments to politics and culture.

EU is also the second largest foreign market for Vietnam and the country’s exports to EU were 20 percent of its total export volume last year.

Two-way trade between Vietnam and EU saw an impressive increase with VN exports to EU reaching over 9 billion euros, up by 38percent compared with the year before. In addition, negotiating a free trade agreement between Vietnam and EU helped trade relations on both sides.

EU is also negotiating a free trade agreement with Singapore and Malaysia. Philippines, Indonesia and Thailand are also proposing to negotiate a free trade agreement with EU.

Source: SGGP