Việt Nam, Belgium expand cooperation, tap trade, investment potential

Việt Nam, Belgium expand cooperation, tap trade, investment potential

The official visit to Belgium by General Secretary of the Communist Party of Việt Nam Central Committee and President Tô Lâm is expected to provide fresh impetus for cooperation in trade, investment, science and technology, innovation, high-quality human resources training, logistics and green growth.

Garment production for export at Hưng Việt Garment Company. Belgium remains an important partner in helping Vietnamese goods access the European market. —VNA/VNS Photo Trần Việt

More than five decades after establishing diplomatic relations in 1973, Việt Nam and Belgium have continuously strengthened their friendship and expanded cooperation across various fields. As an active supporter of the EU-Việt Nam Free Trade Agreement (EVFTA), Belgium remains an important partner in helping Vietnamese goods access the European market.

Against a backdrop of considerable untapped potential, the official visit to Belgium by General Secretary of the Communist Party of Việt Nam Central Committee and President Tô Lâm is expected to provide fresh impetus for cooperation in trade, investment, science and technology, innovation, high-quality human resources training, logistics and green growth.

According to the Ministry of Industry and Trade, Belgium is Viêt Nam's sixth-largest trading partner, fifth-largest export market and seventh-largest import market within the European Union (EU). Việt Nam, meanwhile, is Belgium's largest trading partner in ASEAN. Bilateral trade averaged US$3.44 billion annually between 2015 and 2025.

In the first eight months of 2026, bilateral trade increased 4.7 per cent year-on-year to $3.1 billion. Việt Nam's exports reached $2.7 billion, up 10.4 per cent, while imports fell 22.3 per cent to $398.8 million.

A memorandum of understanding signed in April 2025 between the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade and Belgian regional trade and investment promotion bodies established a framework for closer cooperation. The agreement promotes information exchange, trade promotion events, business matchmaking, training and experience-sharing, while supporting women-owned businesses in international trade.

Expanding collaboration

Belgian Ambassador to Việt Nam Pieter Leenknegt said bilateral ties will continue to grow alongside Vietnam's economic expansion and strong trade performance.

He identified green technology, logistics, smart agriculture and aquaculture as promising areas for collaboration, with digital transformation and green transition, robotics, renewable energy and energy storage offering particularly strong potential.

Offshore wind power is one example of complementary strengths. Việt Nam has substantial wind energy potential along its coastline, while Belgium possesses advanced technology and experience in offshore wind development, energy storage and power integration into industrial production. Combining these strengths could create opportunities across the entire value chain.

The circular economy, waste management and waste-to-energy technologies also offer significant prospects, as Việt Nam's industrialisation and urbanisation increase demand for efficient resource use and waste treatment.

In logistics and maritime connectivity, Belgium's major ports and multimodal transport networks provide a gateway to Europe, while Việt Nam occupies a strategic position in ASEAN. Cooperation linking ports such as Antwerp and Zeebrugge with Hải Phòng and the Mekong Delta could strengthen trade connectivity and green supply chains.

The EVFTA, which took effect in 2020, has helped boost Việt Nam-EU trade by more than 40 per cent. The EU-Việt Nam Investment Protection Agreement (EVIPA) is also expected to strengthen investor confidence through a more predictable legal framework.

Other promising areas include transport infrastructure, biotechnology, pharmaceuticals and food processing.

Phạm Mạnh Hùng, chairman of the Vietnam-Belgium Friendship Association, stressed the importance of promoting the role of people-to-people diplomacy alongside trade promotion and state management channels. He called for long-term scientific and technical cooperation plans, economic forums and targeted business matchmaking, with concrete projects and commercial outcomes as the ultimate goals.

From November 14-22, the Vietnam Trade Promotion Agency will organise a trade and investment promotion delegation to Belgium and the Netherlands. The programme aims to help Vietnamese businesses find partners, expand their EU market presence and integrate more deeply into high-tech supply chains, particularly in semiconductors, electronics, precision engineering, automation and supporting industries.

The initiative is expected to expand trade and investment opportunities, facilitate access to advanced technologies and strengthen Vietnamese businesses' links with Europe's industrial ecosystem, making more effective use of the EVFTA. 

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