Viet Nam emerges as France's second largest trading partner in ASEAN

Meanwhile, France is Viet Nam's fourth biggest trading partner in the European Union, after the Netherlands, Germany and Italy.

In 2024, the two-way trade increased by 12.9 percent year-on-year to US$5.4 billion, of which Viet Nam's goods exports to France were estimated at US$3.4 billion, up 7.5 percent from the previous year.

In the first four months this year, bilateral trade grew by 9.7 percent to nearly US$1.8 billion, reported the ministry.

Viet Nam's key export items include footwear, phones and components, garments and textiles, electronic products, and machinery and equipment.

The EU-Viet Nam Free Trade Agreement (EVFTA), which came into effect in August 2020, has created a strong boost to trade exchanges between Viet Nam and France.

During General Secretary To Lam's official visit to France in October last year, the two countries decided to elevate their ties to a Comprehensive Strategic Partnership, making France the first EU country to establish such highest level of partnership with the Southeast Asian nation.

General Secretary To Lam and French President Emmanuel Macron reaffirmed their common resolve to boost economic, trade and investment cooperation-a pillar of the bilateral ties.

Both sides reiterated the importance of continuing full implementation of the EVFTA, including market access and protection of intellectual property rights.

On investment, both sides will continue to facilitate their projects in each country towards a transparent, stable and predictable business environment. Both sides underscored the importance of the EU-Viet Nam Investment Protection Agreement (EVIPA). Viet Nam expected France to soon ratify the EVIPA.

Both sides expressed their wish to develop and deepen strategic cooperation in innovation and new technologies, especially through the exchange of public policies and training activities.

Viet Nam expressed its wish to step up cooperation with France and French companies in the fields of infrastructure, urban and railway transport, renewable energy, energy transition, non-carbon hydrogen, digital economy, circular economy, logistics and seaport infrastructure, civil aviation, and submarine cables.

Both sides agreed to foster cooperation in training, research and application of civil nuclear technology, especially in the energy sector.

The two leaders committed to strengthening and expanding the scope of cooperation in the fields of satellites and essential minerals./.