In force since August 1, 2020, the EVFTA is one of the EU’s most comprehensive and ambitious trade agreements with a developing nation. Since its implementation, EU-Vietnam trade has grown significantly. Vietnam’s National Statistics Office reports that two-way trade totaled 298 billion USD between August 2020 and May 2025, representing 40% of trade recorded in the 30 years since 1995.

Nguyen Hai Minh, Deputy Chairman of the European Chamber of Commerce in Vietnam (EuroCham), said that a highlight for European businesses is the effective implementation of the EVFTA over the past five years.

“Vietnam’s Ministry of Industry and Trade has worked closely with the EU and the business community to address institutional bottlenecks and remove barriers in import–export activities, thereby creating a more favorable business environment for European companies to access and expand in the Vietnamese market,” said Minh.

The EVFTA has strongly attracted investment from Europe, while elevating Vietnam’s position in the global supply chain. As of mid-2025, registered FDI from the EU has exceeded 35 billion USD.