Hanoi and Athens are deepening their economic ties, signaling a strengthened partnership between Vietnam, and Greece. Recent high-level meetings have underscored a mutual commitment to expanding trade and investment, particularly leveraging Greece’s position within the European Union. This collaboration comes as both nations seek to capitalize on opportunities presented by the EU–Vietnam Free Trade Agreement (EVFTA).
On March 3, 2026, Acting Minister of Industry and Trade Le Manh Hung met with Ioannis Plakiotakis, First Vice President of the Hellenic Parliament, at the Ministry of Industry and Trade headquarters in Hanoi. The meeting, attended by representatives from key Vietnamese trade agencies including the Agency for Foreign Market Development, the Trade Promotion Agency, the Agency of Foreign Trade, and the Multilateral Trade Policy Department, focused on bolstering bilateral economic cooperation. This meeting builds on existing parliamentary ties and aims to translate political goodwill into tangible economic benefits.
Expanding Trade and Investment Opportunities
During the meeting, Acting Minister Hung expressed confidence in the continued growth of trade between Vietnam and Greece. He highlighted Greece’s strategic role as a bridge for strengthening cooperation between Vietnam and the broader EU market. According to the Vietnamese Ministry of Industry and Trade, both sides agreed on the significant potential for increased collaboration.
Plakiotakis reciprocated this sentiment, noting that Greece was among the first countries to ratify the EVFTA, which came into effect in August 2020. He emphasized the potential for further development stemming from the trade agreement, particularly in key sectors. The EVFTA has been instrumental in reducing tariffs and fostering closer economic links between Vietnam and the EU, and Greece is keen to maximize its benefits.
Focus Areas: Transportation, Logistics, and Agriculture
The First Vice President of the Hellenic Parliament identified transportation, logistics, and agricultural exports as areas of particular interest for expanded cooperation. Greece’s leading position in maritime shipping – operating over 4,500 commercial vessels, representing around 20 percent of the world’s fleet – presents significant opportunities for collaboration in these sectors. This expertise extends to shipbuilding, ship repair, and related logistics services, areas where Vietnam could benefit from Greek investment and technology transfer.
Vietnam, experiencing robust economic growth, is an increasingly attractive market for Greek businesses. The country’s strong market potential and strategic location in Southeast Asia create it a key partner for Greece’s economic expansion in the region. Agricultural exports from Vietnam to Greece are also expected to increase, building on the existing trade relationship.
The EVFTA: A Catalyst for Growth
The EU–Vietnam Free Trade Agreement (EVFTA) is a comprehensive trade agreement between the European Union and Vietnam. It eliminates over 99% of tariffs between the two sides and aims to boost trade and investment. The European Commission details the agreement’s provisions, which also cover areas such as intellectual property, sustainable development, and dispute resolution. The EVFTA has been a key driver of economic growth in Vietnam, attracting foreign investment and increasing exports.
Greece’s early ratification of the EVFTA demonstrates its commitment to strengthening economic ties with Vietnam. By serving as a gateway for Vietnamese products into the EU market, Greece can play a crucial role in facilitating increased trade flows and fostering economic development in both countries.
Strengthening Bilateral Relations
The recent meetings between Vietnamese and Greek officials represent a significant step forward in strengthening bilateral relations. Beyond trade and investment, both countries are exploring opportunities for cooperation in other areas, such as tourism, education, and cultural exchange. The Vietnamese government views Greece as an important economic partner in Southeast Asia, recognizing its potential to contribute to Vietnam’s continued economic growth.
The discussions also highlighted the importance of addressing logistical challenges to facilitate smoother trade flows. Improving transportation infrastructure and streamlining customs procedures are key priorities for both countries. Collaboration in these areas will be essential to maximizing the benefits of the EVFTA and fostering sustainable economic growth.
Recent Developments in Vietnam-Greece Trade
While comprehensive trade statistics for 2026 are not yet available, data from 2024 indicates a growing trade volume between Vietnam and Greece. According to the General Statistics Office of Vietnam, bilateral trade reached $450 million in 2024, a 15% increase compared to the previous year. Key Vietnamese exports to Greece include footwear, textiles, and agricultural products, while Greece primarily exports machinery, chemicals, and raw materials to Vietnam.
The Vietnamese Ministry of Industry and Trade is actively working to promote Vietnamese products in the Greek market through trade fairs and promotional events. These initiatives aim to increase awareness of Vietnamese goods and services among Greek consumers and businesses.
Looking Ahead
The momentum generated by these recent meetings suggests a promising future for Vietnam-Greece economic cooperation. Both countries are committed to building on the existing foundation of trust and collaboration to unlock new opportunities for growth and development. The focus will be on leveraging the benefits of the EVFTA, expanding trade in key sectors, and fostering closer people-to-people ties.
The next key event to watch is the planned visit by a Vietnamese business delegation to Athens in the fourth quarter of 2026. This delegation will explore potential investment opportunities and meet with Greek business leaders to forge new partnerships. Further updates on the progress of Vietnam-Greece economic cooperation will be available on the websites of the Vietnamese Ministry of Industry and Trade and the Hellenic Parliament.
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