Vietnam and Egypt intensify economic partnerships
Vietnam and Egypt have taken a significant step forward in their bilateral relations, as the Vietnam-Egypt Comprehensive Partnership was formally established during a state visit by Vietnamese President Lương Cường to Egypt. This upgrade marks a new chapter in the more than 60-year-old diplomatic ties between the two countries, committing to deepen cooperation across multiple sectors.
The Comprehensive Partnership was established on August 5, 2025, during President Lương Cường's meetings with Egyptian President Abdel Fattah El-Sisi. The two countries have agreed to work together on trade, investment, education, science and technology, green transition, digital transformation, defense, and cultural exchanges.
One of the key areas of focus is the Free Trade Agreement (FTA). Both countries have agreed to establish a working group to explore and launch negotiations for a Vietnam-Egypt FTA. This move is seen as a breakthrough measure aimed at significantly increasing bilateral trade and promoting sustainable, mutually beneficial economic cooperation. Vietnam will open its market to select Egyptian goods, while Egypt aims to serve as a strategic gateway for Vietnamese businesses to access markets in the Middle East and Africa. Conversely, Vietnam provides a strategic access point to ASEAN for Egyptian enterprises.
Another significant development is the Agreement on the Avoidance of Double Taxation. The two sides have pledged to expedite negotiations toward the early signing of this important legal framework. This agreement is intended to facilitate investments and economic exchanges by preventing double taxation on income earned in either country, thereby promoting smoother business operations and cooperation.
Bilateral trade between Vietnam and Egypt reached US $541.4 million in 2024, with Vietnam holding a substantial trade surplus and Vietnamese enterprises actively investing in Egypt. Egypt has expressed readiness to support Vietnamese businesses, including facilitating access to financial resources for expanding operations in Egypt.
During the state visit, Vietnamese Deputy Prime Minister and Minister of Foreign Affairs, Buì Thanh Sơn, met with Egyptian Minister of Planning, Economic Development and International Cooperation, Rania A. Al-Mashat. Minister Al-Mashat, who serves as Chair of the Egyptian Subcommittee of the Vietnam-Egypt Joint Committee, noted her multiple visits to Vietnam and her interest in learning from its development experience. Son praised Egypt's development achievements in various sectors.
The two leaders also emphasized mutual support in international forums such as the UN, Non-Aligned Movement (NAM), African Union (AU), and ASEAN, fostering regional stability and strengthening inter-regional connections.
In summary, the Vietnam-Egypt Comprehensive Partnership formalizes elevated bilateral relations, with concrete plans to negotiate a Free Trade Agreement and an Avoidance of Double Taxation Agreement to boost trade, investment, and wider cooperation across many sectors. Both sides have agreed to accelerate the implementation of key agreements reached during the President's visit, including organizing the 6th session of the Vietnam-Egypt Joint Committee and the 3rd session of the Subcommittee on Trade and Industry Cooperation in 2025.
- The Free Trade Agreement (FTA) between Vietnam and Egypt is a key area of focus, with both countries planning to establish a working group to explore and launch negotiations.
- Another significant development is the Agreement on the Avoidance of Double Taxation, which the two sides have agreed to expedite negotiations toward the early signing.
- Vietnam will open its market to select Egyptian goods, while Egypt aims to serve as a strategic gateway for Vietnamese businesses to access markets in the Middle East and Africa.
- Traditionally, Egypt has expressed readiness to support Vietnamese businesses, including facilitating access to financial resources for expanding operations in Egypt.
