Vietnam-EU Trade Reaches New Heights with USD 45 Billion Milestone in 2024

Vietnam's trade with the EU surged to nearly USD 45 billion in the first eight months of 2024, marking a 15.8% increase from the previous year. This growth underscores the positive impact of the Vietnam-EU Free Trade Agreement.

Ho Chi Minh City [Vietnam], September 24 (ANI/WAM): Vietnam's bilateral trade with the European Union (EU) has soared to nearly USD 45 billion in the first eight months of 2024, representing a 15.8 percent year-on-year rise, according to the Vietnam News Agency (VNA) on Tuesday. Vietnam's exports to the EU reached USD 34.1 billion during this period, marking a 17.4 percent increase compared to the same timeframe in 2023.

These statistics highlight the economic recovery in the EU and the resilience of Vietnamese enterprises in leveraging opportunities provided by the Vietnam-EU Free Trade Agreement (EVFTA). Positive contributions from Vietnam's logistics sector and its partners have also played a crucial role, noted Nguyen Thao Hien, Deputy Director-General of the European-American Market Department under the Vietnam Ministry of Industry and Trade (MoIT). She stated that 2024 marks the fourth year since the EVFTA came into effect, which has continued to bolster bilateral trade despite challenges such as the COVID-19 pandemic and geopolitical tensions.

Hien made these remarks at a forum focused on capitalizing on opportunities from the EVFTA and shifts in the logistics industry to aid Vietnam's exports to the EU, held in Ho Chi Minh City on Monday. (ANI/WAM)

(With inputs from agencies.)