Sharing natural similarities, the two countries have beefed up their sustainable development partnership in sustainable agriculture, water management, and climate change adaptation.

Asia's factory activity contracted in January as the boost from China's COVID reopening had yet to offset headwinds from slowing U.S. and European growth, surveys showed on Wednesday, underscoring the fragility of the region's economic recovery.

Besides trade, bilateral cooperation in tourism and investment also grew with the resumption and launch of direct air routes.

Currently, Vietnam has trade relations with 230 countries and territories, thereby creating favorable conditions for Vietnamese enterprises to expand market access and to connect and participate more deeply in the global value chain and production network.

Foreign investment inflows into Việt Nam will likely reach US$36-38 billion in 2023, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment. 

Efforts to mitigate climate change are prompting countries across the world to embrace dramatically different policies toward industry and trade, bringing governments into conflict.

Despite generating revenue of over 44 billion USD in 2022, Vietnam’s garment sector is expected to face headwinds in the coming time as consumers in the world continue to tighten their budgets due to high inflation.

Commitments outlined in the EVFTA on both trade and investment are expected to contribute to attracting European businesses and investors to expand their activities in Vietnam, further promoting trade and investment cooperation.

The direction of Vietnam’s imports and exports is changing due to a series of green trade revolutions, government policy, and global trends.

Imports and exports continue to be a bright spot for Vietnam despite facing numerous difficulties and Vietnamese enterprises can penetrate deeper into the global supply chains with good strategies, according to experts.