How Taiwan Can Ride Vietnam's EVFTA Advantage Into Europe
Under the EVFTA, Vietnam became the EU's largest ASEAN trading partner. Taiwan can use Vietnam as a gateway to Europe.
[How Taiwan Can Ride Vietnam's EVFTA Advantage Into Europe]
In just five years, Vietnam became the EU's largest trading partner in Southeast Asia. How can Taiwanese companies benefit?
The EU-Vietnam Free Trade Agreement (EVFTA) gave Vietnam duty-free access to the European market. In 2024, Vietnam's trade surplus with the EU reached USD 34.3 billion, up 19.4% from 2023. Among ASEAN nations, only Vietnam and Singapore have signed FTAs with the EU — others lag far behind.
Vietnam is currently the EU's 17th-largest trading partner, accounting for less than 2% of trade. But as the EU seeks to reduce dependence on Russia, China, and the U.S., the relationship has room to grow.
▍ Vietnam to the EU
Garments, footwear, electronics, and agricultural products are all surging. Taiwanese components and machinery enter Vietnam for processing and then ship to Europe duty-free — sidestepping U.S.-China trade barriers in the process.
▍ EU to Vietnam
European goods flowing into Vietnam create opportunities for Taiwan as well. EU high-end machinery and green energy equipment arrive in Vietnam, and Taiwanese firms can serve as a bridge — converting European technology into Vietnamese production capacity.
Challenges remain. EU regulatory standards are demanding, and Taiwanese companies must prepare accordingly. But EVFTA is not just Vietnam's opportunity — it is Taiwan's shortcut to Europe. The sooner the move, the better.
