Vietnam-France trade ties expected to surge
France is Vietnam's fifth largest trade partner in the EU.
Party General Secretary and State President To Lam's official visit to France and attendance at the 19th Francophonie Summit is expected to boost bilateral economic, trade, and investment ties, reported the Government News.
According to the Ministry of Industry and Trade, two-way trade between Vietnam and France has seen an average annual growth rate of 15.7 per cent from 2011 to 2019. France is Vietnam's fifth largest trade partner in the EU.
In the first eight months of 2024, bilateral trade exceeded $3.4 billion, with Vietnam's exports reaching $2.23 billion. Key Vietnamese exports include footwear, garments-textiles, household utensils, agro-forestry-fishery products, jewelry, electronic items, ceramics, and rubber.
Vietnam imports high-value and technology-intensive products from France, such as pharmaceuticals, machinery, equipment, and means of transport.
Since establishing diplomatic ties, Vietnam and France have made significant strides in trade. The EU-Vietnam Free Trade Agreement (EVFTA) has opened up substantial opportunities for strengthening their economic and trade relations.
The Vietnamese Trade Office in France has actively promoted Vietnamese products in the French market, including fresh fruits, canned fruit products, and rice.
The office plans to continue efforts to unleash the market, promote exporting potential Vietnamese agro-fishery products, and attract French investors to Vietnam.
