Vietnam Grabs Market Share From Asian Peers in European Trade
- Singapore, Malaysia, Thailand, Indonesia losing market share
- EU targeting Vietnam, Singapore in new business initiative
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Vietnam took market share of European Union trade away from other Southeast Asian nations last year, a trend that may continue after it concluded a free trade agreement with the regional bloc.
The country accounted for 19.1 percent of the 201.4 billion euros ($227 billion) in total trade between the EU and members of the Association of Southeast Asian Nations, or Asean, in 2015. That figure is up from 15.8 percent in 2014, according to data from the EU delegation in Singapore.