Vietnam is forging partnerships with Luxembourg, the Netherlands and Belgium.

Trade between Vietnam and Luxembourg has risen 60 per cent over a year earlier. As of October 2022, Vietnam’s exports to the country were up 50 per cent year on year while imports were up 11 per cent. Vietnam mostly exports garment and footwear products to Luxembourg while importing fiber and chemicals from the country.

The Netherlands is one of the leading trade partners of Vietnam as it is a gateway to the EU and one of the largest logistics centers in the region. Trade between Vietnam and the Netherlands has increased about six per cent each year. The Netherlands is the sixth largest export market of Vietnam and the biggest among the EU members.

Belgium is the sixth largest European trade partner of Vietnam. Before Covid broke out, two-way trade would risesix to ten per cent each year. After a fall of ten per cent in 2020, the growth rate surged to 53 per cent in 2021. Vietnam is Belgium’s supplier of footwear, garment products, coffee and aquatic products. Meanwhile, Belgium provides Vietnam with pharmaceuticals, gems, machineries and equipment.Belgium has high demand for agro-fisheries products and traditional handicrafts, which are Vietnam’s strengths.