Viet Nam expects to sign trade deals with Mercosur, GCC in 2025

 

Prime Minister Pham Minh Chinh presides over the Cabinet meeting in Ha Noi, November 8, 2025. Photo: VGP

The Prime Minister made the above statement while addressing the Cabinet meeting in Ha Noi on Saturday.

The Government chief urged inferior levels to carry out large-scaled, high-quality trade promotion programs in key markets such as the EU, the U.S., Japan and South Korea.

The above moves reflect the country's efforts to diversify trade relations in a bid to achieve the growth goal of at least 8 percent in 2025 and double-digit growth in the years beyond.

The Vietnamese economy expanded 8.22 percent in July-September period compared to 7.96 percent in second quarter and 6.93 percent in the first quarter, indicating strong growth momentum despite adverse weather conditions. To achieve the whole-year goal, the economy needs to grow 8.4 percent in the fourth quarter.

Many international organizations have revised up their growth projections for Viet Nam in 2025. In October, Standard Chartered Bank raised its forecast for Viet Nam's 2025 growth to 7.5 percent from 6.1 percent at the end of July and 7.2 percent for 2026. 

Singapore-based UOB Bank upgraded its 2025 growth forecast to 7.5 percent from 6.9 percent earlier, while the Asian Development Bank (ADB) increased its growth projection to 6.7 percent for Viet Nam in this year.

In its latest report, HSBC raised its 2025 gross domestic product growth forecast for Viet Nam to 7.9 percent, from its previous prediction of 6.6 percent.

"While exports from other ASEAN countries to the U.S. have experienced a slight decline as the impact of earlier frontloading activities fades, Viet Nam's trade performance has remained strong with double-digit growth. Even more encouragingly, Viet Nam's retained trade surplus has more than doubled to US$3 billion in the third quarter compared with the first half of 2025," HSBC said.

According to the National Statistics Office, Viet Nam's trade with the rest of the world increased by 17.4 percent to over US$762.4 billion in the first ten months this year. Of this figure, export value rose by 16.2 percent to USE$391 billion.

Foreign direct investment inflows reach US$31.5 billion, up 15.6 percent against the same period last year while the disbursed volume was estimated to reach five-year high of at US$21.3 billion.

Viet Nam welcomed 1.73 million international visitors in October — the highest figure ever for a single month, raising the total number of foreign arrivals to more than 17.2 million, a year-on-year increase of 21.5 percent./.