The proposed EU-Vietnam free trade agreement is seen by France as a gateway for EU and Vietnam to access each other’s markets more easily and promote economic and commercial exchange, benefiting both the EU and Vietnam. France is the 16th biggest foreign investor in Vietnam, but accounts for less than one per cent of the Vietnamese market. France and Vietnam have friendship links and strategic cooperation across various fields like economy, health care and education. The Vietnamese community in France numbers around 3,00,000.

France is Vietnam's fifth largest trade partner in Europe and is the third largest European investor in the Southeast Asian country. Almost two thirds of French investments are made in the services sector, one fifth in industry (water, gas and electricity), seven per cent in agriculture and five per cent in retailing. Almost 300 French businesses are set up in Vietnam in the form of companies, representative offices and joint ventures.

Among Vietnam’s exports to France are cell phones and accessories, footwear, textiles and garments, rubber products, plastic products, confectionery, pepper, precious stones and metals.

French group Scavi is investing heavily in Vietnam. Scavi is one of the world’s top enterprises in lingerie, swimwear, and sportswear. North America and Japan are the group’s key export markets, accounting for some 40 per cent of its total revenue.