Vietnam Trade

The new Vietnam-Laos trade agreement, which consists of five chapters with 15 articles and five appendices, covers important aspects of trade cooperation between the two countries.

Trade between Vietnam and the United States soared 300-fold from $450 million in 1995 to $139 billion in 2022.

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The Vietnamese Government places significant emphasis on fostering economic, trade, industrial, and investment ties with China and South Asian nations.

Vietnamese economy should be able to translate the benefits gained from international economic integration into tangible outcomes, such as increased growth in the import and export of goods and services.

The move would help create a driving force for economic growth across the three pillars of investment, exports and consumption.

South Korea is currently the largest foreign investor in Vietnam, with total FDI commitments of $80.5 billion, and the third trade partner with a total turnover of $88 billion in 2022.

The country has posted a trade surplus of nearly $11 billion.

By 2030, it is expected that Vietnamese goods would be available at both traditional and online distribution networks in all countries having free trade agreements (FTAs) with Vietnam.

The utilization of a diversified network of free trade agreements continues to support Vietnam’s trading performance despite the unfavorable global economic environment.