Việt Nam, Egypt strengthen economic ties, eye bilateral FTA

Việt Nam, Egypt strengthen economic ties, eye bilateral FTA

Egypt is currently Việt Nam’s largest trade partner in North Africa, with bilateral trade reaching over US$472 million in 2024.

A meeting between the working delegation from Việt Nam’s Ministry of Industry and Trade and leaders of Egypt’s Investment and Foreign Trade Ministry. — Photo courtesy of the Ministry of Industry and Trade

A working delegation from Việt Nam’s Ministry of Industry and Trade, led by Deputy Minister Phan Thị Thắng, held a meeting on Monday with leaders of Egypt’s Investment and Foreign Trade Ministry.

The meeting took place as part of President Lương Cương’s state visit to Egypt from August 3 to 6.

At the meeting, Thắng expressed appreciation for the close cooperation extended by the Egyptian ministry to its Vietnamese counterpart in recent years. She also highlighted the marked progress in bilateral ties and reaffirmed Việt Nam’s high regard for Egypt’s important role in North Africa and across the African continent.

Egypt is currently Việt Nam’s largest trade partner in North Africa, with bilateral trade reaching over US$472 million in 2024.

The official noted that the trade structure between the two countries is complementary rather than competitive, offering substantial potential to expand cooperation, especially in the fields of industry, agriculture, investment and logistics.

She emphasised the need for both ministries to work more closely to advance economic and trade relations in line with the overall partnership between the two nations.

Both sides agreed to step up coordination in organising trade and investment promotion activities to expand scale and move toward a more balanced bilateral trade relationship.

On this occasion, the Egyptian side announced the plan to send a business delegation to Việt Nam in 2025 and proposed joint efforts to organise promotion events.

Egyptian Minister of Investment and Foreign Trade Hassan El Khatib praised the long-standing friendship between the two countries, and commended Việt Nam’s strong economic growth in recent years.

He highlighted Egypt’s geographic advantages and its wide network of economic agreements with the European Union and African nations, as well as the country’s potential in logistics, renewable energy, oil and gas, and industries such as textiles, fertilisers, and chemicals.

During the meeting, both sides agreed to establish a joint working group to study the feasibility of a Vietnam–Egypt Free Trade Agreement (FTA). The group will assess the potential benefits such an agreement could bring to both countries, helping promote balanced growth in trade and investment.

Additionally, the two sides consented to coordinate in organising the 3rd session of the Việt Nam–Egypt subcommittee on trade and industry cooperation in Việt Nam, tentatively scheduled for the fourth quarter of 2025. The session will focus on detailed cooperation in trade and industrial development.

According to statistics, trade between Việt Nam and Egypt reached $472.6 million in 2024, up 9.4 per cent from the previous year. In the first half of 2025 alone, trade totaled nearly $267 million, an increase of 8 per cent year-on-year, all of which was made up of Việt Nam’s exports to Egypt.

Việt Nam’s key exports to Egypt include coffee, mobile phones and components, vehicles and parts, electronics, seafood, pepper, machinery and equipment, fruits and vegetables, cashew nuts, textile fibers, garments and base metals. 

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