"The upgrade places the EU on the same diplomatic footing as the United States, China and Russia and was announced during a visit to Hanoi by European Council President António Costa. "At a moment when the international rules-based order is under threat from multiple sides, we need to stand side by side as reliable and predictable partners," Costa said, adding that the partnership is about "developing spheres of shared prosperity.""
"Vietnam has been a major beneficiary of globalization, emerging as a key export hub for electronics, garments and consumer goods as multinational firms shifted production away from China. That export-led growth has helped lift incomes and transform the economy, but Vietnam's large and persistent trade surplus has drawn criticism, particularly from the U.S. and increasingly from Europe, where officials have raised concerns about market access."
"For the EU, the deal strengthens access to one of Asia's fastest-growing manufacturing hubs and supports efforts to diversify supply chains as trade tensions increase. Bilateral trade in the first 11 months of 2025 reached more than $66.8 billion, up 6.6% from a year earlier. The EU is Vietnam's fourth-largest trading partner, third-largest export market and fifth-largest import source."
Vietnam and the European Union upgraded ties to a comprehensive strategic partnership, the highest diplomatic level, during a Hanoi visit by European Council President António Costa. The partnership places the EU on the same diplomatic footing as the United States, China and Russia and emphasizes reliable, predictable partnership and shared prosperity amid pressures on the rules-based international order. Vietnam recently reenforced leadership endorsing aggressive economic reforms. Vietnam emerged as a major export hub as firms shifted production from China, generating a large trade surplus that drew criticism from the U.S. and Europe. The deal strengthens EU access, supports supply-chain diversification, and bilateral trade exceeded $66.8 billion in the first 11 months of 2025.
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