HCMC – Vietnam and the European Union (EU) have agreed to establish a special task force to address trade barriers, enhance investment cooperation, and fully tap the potential of the EU-Vietnam Free Trade Agreement (EVFTA).
The agreement was reached at the fourth meeting of the EVFTA Trade Committee in Hanoi on September 30, co-chaired by Minister of Industry and Trade Nguyen Hong Dien and EU Commissioner for Trade and Economic Security Maros Sefcovic, the Ministry of Industry and Trade said.
During the meeting, both sides reviewed the EVFTA’s implementation, agreed to step up commitments, and formed the task force to tackle bottlenecks and promote balanced, effective trade.
Minister Dien noted that the EVFTA has enabled Vietnam to integrate more deeply into global value chains and accelerate institutional reforms. Yet he admitted that the market share of Vietnamese goods in the EU, and EU goods in Vietnam, remains limited.
Vietnam informed the EU that it has joined the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), completed ratification of the Fisheries Subsidies Agreement, and is preparing to take part in the e-commerce initiative.
The two sides committed to maintaining regular dialogue and facilitating high-quality EU investment in high technology, digital transformation, and renewable energy. Vietnam also called on the EU to swiftly ratify the EU-Vietnam Investment Protection Agreement (EVIPA) and lift the IUU “yellow card” on Vietnamese seafood.
Customs data showed Vietnam-EU trade reached US$68.4 billion in 2024, up 16.8% from 2023 and accounting for 8.7% of the country’s total trade. Exports to the EU alone amounted to US$51.72 billion, up 18.5%.
In the first eight months of 2025, bilateral trade stood at US$48.4 billion, up 7.7% year-on-year, with exports hitting US$36.9 billion, an 8.4% increase.
