Deputy Minister of Industry and Trade Luong Hoang Thai said the European Union (EU) is currently Vietnam's fourth-largest trading partner, third-largest export market, and sixth-largest import market.
Speaking at the Vietnam-EU Economic and Trade Cooperation Forum in Hanoi on November 4, held under the theme “Shaping the Future of a Green Economy and New Value Chains,” Deputy Minister of Industry and Trade Luong Hoang Thai said Vietnam's economy continues to maintain strong growth momentum.
During the first nine months of 2026, Vietnam's GDP expanded by more than 9 percent year-on-year, the highest growth rate since 2011. The country's total merchandise trade turnover surpassed US$1 trillion, up more than 30 percent from the same period a year earlier.
According to the Deputy Minister of Industry and Trade, Vietnam is currently a party to 18 free trade agreements (FTAs), creating an extensive trade network with partners and markets worldwide. Among them, the EU-Vietnam Free Trade Agreement (EVFTA) serves as an important foundation for promoting trade, investment, and broader cooperation between the two sides.
Vietnam-EU relations have gained additional momentum after the two sides upgraded ties to a Comprehensive Strategic Partnership in 2026.
Vietnam has set a target of achieving double-digit economic growth during the 2026-2030 period, with the goal of becoming one of the world's 30 largest economies by 2030. To achieve this objective, the country must continue expanding markets, improving growth quality, and attracting high-quality investment resources.
The Ministry of Industry and Trade has called on the EU to continue supporting Vietnam in finance, technology, and knowledge transfer, particularly in energy transition and green transformation.
Deputy Minister of Industry and Trade Luong Hoang Thai speaks at the Vietnam-EU Economic and Trade Cooperation Forum in Hanoi. Photo: Phuc Hau
Vietnam also hopes to increase exports of technology-intensive products, deeply processed goods, and high-value-added products to the EU. At the same time, the country seeks to import machinery, equipment, raw materials, advanced technologies, and solutions supporting green transformation, digital transformation, and circular economy development.
Vice Chairman Noel Clehane of the EU-ASEAN Business Council (EU-ABC) said European companies want to work alongside Vietnam in developing competitive industries, strengthening domestic and regional value chains, and supporting the country's green transition.
Vice Chairman Noel Clehane noted that a transparent investment environment, predictability, and green transformation are key conditions for Vietnam to integrate more deeply into global value chains.
According to data from the Vietnam Customs Department, two-way trade between Vietnam and the EU reached US$65.48 billion in the first nine months of 2026, up 20 percent from the same period in 2025.
Vietnam recorded a trade surplus of about US$36.1 billion with the EU. The bloc accounted for 11.7 percent of Vietnam's total export turnover during the first nine months of 2026.
