Trade between the EU and Vietnam is rising sharply and Vietnam has turned into a very attractive trading partner for European retailers, wholesalers and importers for both sourcing and market access. European trade is mainly importing footwear, apparel, leather, furniture and agricultural goods from Vietnam, with a total bilateral exchange in goods amounting to 18 billion Euro in 2011.
The Foreign Trade Association is therefore a strong promoter of strengthening economic and political ties with Vietnam and is playing an active role in the negotiations between the EU and Vietnam for an ambitious free trade agreement, which started in October 2012. To this end, the FTA developed a Position Paper which provides a precise picture of remaining obstacles in bilateral trade and offers practical recommendations for removing these impediments.
A successful outcome of talks would facilitate trade in goods, also to the benefit of European consumers, and improve the economic and legal environment for European distribution companies in Vietnam.