# Vietnam-EU economic and trade relations

> Live situation record from CLSTR: https://clstr.news/situations/vietnam-eu-economic-and-trade-relations
> Updated: 2026-09-08T23:53:03.000Z. Sources: 7. Developments: 2.

Bilateral trade between Vietnam and the European Union has experienced significant growth following the implementation of the European Union-Vietnam Free Trade Agreement (EVFTA). By 2024, two-way trade reached $68.4 billion, representing a 16.8% increase from the previous year. This agreement has also served as a catalyst for economic reform, prompting Vietnamese enterprises to upgrade supply chains and encouraging improvements in institutional governance.

Building on this economic momentum, Vietnam has emerged as the leading ASEAN market for European business expansion. An annual survey by the EU-ASEAN Business Council (EU-ABC) found that 64% of surveyed European business leaders intend to expand operations in Vietnam, surpassing other major ASEAN markets such as Indonesia, Malaysia, Thailand, Singapore, and the Philippines. The survey reflects a positive regional outlook, with a majority of participants forecasting increased trade and investment within ASEAN over the next five years.

## Timeline

### 2026-09-08: Vietnam leads ASEAN for European business expansion plans

An EU-ABC survey reveals 64% of European business leaders plan to expand in Vietnam, making it the top ASEAN destination for business growth.

5 sources. https://clstr.news/cluster/vietnam-leads-asean-for-european-business-expansion-plans

### 2026-09-03: Vietnam-EU trade reaches $68.4 billion under EVFTA

Six years after the EVFTA implementation, Vietnam-EU bilateral trade reached $68.4 billion in 2024, driving economic reforms and supply chain upgrades in Vietnam.

4 sources. https://clstr.news/cluster/vietnam-eu-trade-reaches-684-billion-under-evfta

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Cite as: Vietnam-EU economic and trade relations. CLSTR, https://clstr.news/situations/vietnam-eu-economic-and-trade-relations