The Department of European-American Markets of Vietnam’s Ministry of Industry and Trade held a forum in Ho Chi Minh City themed “Seizing Opportunities from the EVFTA and Transforming the Logistics Industry to Promote Exports to the EU.”

Deputy Director Nguyen Thao Hien of the Department of European-American Markets stated that since coming into effect four years ago, the EU-Vietnam Free Trade Agreement (EVFTA) has become an important “booster” for maintaining bilateral trade growth between Vietnam and the EU. In the first eight months of 2024, bilateral trade between Vietnam and the EU reached nearly $45 billion, a year-on-year increase of 15.8%. Among these figures, Vietnam’s exports to the EU amounted to $34.1 billion, up 17.4% year-on-year. These results reflect the EU’s economic recovery and the capability of Vietnamese enterprises in leveraging the EVFTA.

Regarding the logistics industry, Deputy Director Nguyen Thao Hien pointed out that the Vietnamese logistics sector has made positive contributions to trade between Vietnam and the EU. However, Vietnam’s import and export activities with the EU also face numerous challenges. To improve export efficiency, the logistics industry must enhance infrastructure, boost operational capacity, and reduce costs to increase competitiveness.

Chandler So, CEO of GEODIS (Vietnam), stated that the series of free trade agreements Vietnam is involved in has helped promote production for export. Trade wars and the pandemic have compelled companies to diversify their transportation networks. These factors have contributed to Vietnam becoming a leading manufacturing hub in ASEAN.

Maritime economist Carlos Zepeda noted that Vietnam is emerging as a major supplier of consumer goods and fashion to Europe, second only to China and Turkey. Given the current growth rate of production, it is expected that by 2050, container trade volume between Vietnam and Europe will double. Therefore, Vietnam needs to significantly improve infrastructure, optimize large port operations, and integrate with industrial zones and clusters to maximize transportation efficiency and reduce logistics costs.

Chen Yujun, Commercial Counsellor at the Vietnamese Delegation to the EU and Belgium, mentioned that after the outbreak of COVID-19, the EU logistics sector has been facing a shortage of personnel…