Seminar on Vietnam-EU Trade Ties

The Vietnam Chamber of Commerce and Industry (VCCI) hosted a seminar on Vietnam-EU trade ties at Sofitel Hotel on May 15, 2007.

In 2006, the Vietnam-EU two-way trade turnover reached nearly US$9.9 billion, including Vietnam’s US$6.9 billion export earnings. Major Vietnamese exports to the EU are footwear, rubber, coffee, woodwork products and electronics components. The EU is the Vietnamese third largest trade partner after China (US$10.4 billion) and Japan (US$9.94 billion) but the EU is the second largest importer of Vietnamese goods.

According to statistics from Euro Start , EU exports to Vietnam were valued 2.2 billion euro in 2006 and estimated to reach 5.4 billion euro in 2007. In investment, the EU is the second largest foreign investor in the country after Japan. The trade ties between Vietnam and the EU started in 2005 when the former submitted the WTO admission application.