According to the Vietnamese Ministry of Trade (MoT), bilateral trade between Vietnam and the EU is estimated to reach a record of $9.2 billion in 2006, up 13.58% compared with 2005.

Vietnam is forecast to attain $6.05 billion from exports to the EU, a year-on-year increase of 12.04%, resulting in a trade surplus of $2.9 billion.

Footwear exports still remain the country’s biggest cash earner, with a total revenue of $2 billion in 2005, doubling the 2000 figure, followed by garments and textiles with export values of $820 million last year. Other export items to the EU enjoying growth rates of over 10% include plastic and woodwork products, and rubber and electronic products.

Last year, trade between the nations reached $8.1 billion, of which Vietnam gained $5.4 billion from exports, and imported $2.7 billion of goods from the EU, up three times compared with the 2000 figure.