Ms. Dinh Thi Hoang Yen - Head of Vietnam Trade Office in Austria, concurrently in Slovenia, had an interview with reporters of Industry and Trade Newspaper on this issue.
Austria and Vietnam are two complementary economies

- Madam, in current context of difficulties in exporting goods, issue of diversifying export markets continues to be of interest. So how do you assess potential of Vietnamese goods in Austria and vice versa?

Ms. Dinh Thi Hoang Yen: Regarding Vietnam's export potential, the Austrian market has following important characteristics: Firstly, Austria is a dynamic gateway to the large European market, especially incentives from the EU-Vietnam Free Trade Agreement (EVFTA). Vietnamese goods exported to Austria can also access landlocked South Central European market, via Slovenia's strategic Koper Port on the Adriatic Sea, connecting to Vietnam via Mediterranean Sea and the Red Sea.
Secondly, Austria and Vietnam are two complementary economies, with Vietnam's largest exports to Austria being electronics, textiles, footwear, wooden furniture and agricultural products, while Austria has strengths in high-tech manufacturing and services. In opposite direction, Austrian companies have great opportunities to export to Vietnam in group of industrial machinery and equipment as growth in the manufacturing sector in Vietnam creates increasing demand for high-quality Austrian industrial equipment.
In short, market fluctuations and global trade tensions are providing opportunities for both Vietnam and Austria to strengthen strategic bilateral economic relationship as both countries are seeking to diversify into larger markets.

- As you shared, EVFTA has been considered an extremely effective lever for trade between Vietnam and European countries, including Austria. How has this agreement been utilized to promote Vietnamese goods to Austria in the past, madam?

Ms. Dinh Thi Hoang Yen: 2025 marks the 35th anniversary of establishment of diplomatic relations between Vietnam and the EU and 5 years of implementing the EVFTA. This agreement is truly an important catalyst for trade activities between Vietnam and European countries, including Austria. According to commitment in EVFTA, EU will reduce tariffs on Vietnamese goods according to a roadmap, helping Vietnamese products to have more competitive prices and become more attractive to retailers and consumers in EU market, including Austria. Main product categories that benefit include textiles and footwear, electronics and components, agricultural products, helping Vietnamese coffee, fruits, seafood and other agricultural products to access the market better.
According to Vietnam Customs, total trade turnover between Vietnam and Austria in 2020 reached 3.18 billion USD, Vietnam had a trade surplus of 2.9 billion USD. However, due to impact of Covid-19 pandemic, conflict in the Red Sea and Austria's investment diversion to some other Southeast Asian countries such as Malaysia in 2021, bilateral trade turnover decreased. By 2024, this figure reached 2.5 billion USD, Vietnam had a trade surplus of 1.6 billion USD.
In 2025, two-way trade tends to grow positively again. In the first 3 months of 2025, total trade turnover between Vietnam and Austria reached 896.9 million USD, an increase of 31.1%, of which exports reached 799 million USD, an increase of 34.7% and imports reached 698 million USD, an increase of 7.5%.
EVFTA has helped Vietnamese government and exporters innovate their quality control systems, raise standards and invest in production to obtain necessary certifications from Austria and EU. EU also provides technical assistance programs for Vietnamese manufacturers to understand, improve and meet EU's strict quality expectations. Austria, like many other EU member states, has been working to incorporate environmental considerations into its trade and export policies in line with Green Deal objectives set by European Commission in 2019 to achieve climate targets such as: Climate neutrality (net zero greenhouse gas emissions) by 2050; Reduce emissions by at least 55% by 2030 (compared to 1990 levels), participate in financial support under Just Transition Mechanism for regions most affected by transition with a total EU investment budget of 1 trillion Euros over ten years with Next Generation Recovery Plan incorporating green transition targets.
- In coming time, what solutions will Vietnam Trade Office in Austria implement to promote two-way trade?
Ms. Dinh Thi Hoang Yen: Austria's economic focus prioritizes four main areas: Automotive and Railways, Life Sciences; Semiconductors/Microelectronics; Environmental Technology.
Like Vietnam, Austria has a strong export-oriented economy and has a micro-enterprise ratio (less than 10 employees) of nearly 90%. Austria is one of the world's top 10 exporting countries per capita. Exports account for 50% of Austria's GDP. Austria's economy is strongly export-oriented, but 80% of Austria's exports are still directed to Europe. However, as Austria's traditional trading partner and neighbor Germany has suffered an economic downturn, Austria has begun to diversify its markets and Asia-Pacific, with a trade share of 11%, is playing an increasingly important role for Austria to exploit. According to Austrian statistics, in 2023, Vietnam will rank 23rd in terms of import turnover of goods and 57th in terms of export turnover of Austria. In coming time, Vietnam continues to request Austrian Ministry of Economy and Labor to report to Austrian Government for early approval of Vietnam - EU Investment Protection Agreement (EVIPA) to pave way for more investment from both countries. At the same time, actively prepare for the 11th Session of Vietnam - Austria Joint Committee on Economic and Trade Cooperation to be held in Vietnam, and negotiate the Austrian Preferential Loan Agreement for Vietnam.
In addition, Trade Office always closely follows the direction of Ministry of Industry and Trade and the Embassy, strengthens cooperation with Austrian Federal Economic Chamber as well as Austrian agencies, localities and enterprises to connect and exchange trade promotion delegations, promote investment, business cooperation, maximize potential of complementary economic structures between two countries, especially important when global trade models adjust to changing tariff context.
Trade Office also actively introduces Vietnamese products in Austria as well as encourages Austrian enterprises to participate in trade exhibitions in Vietnam; participates in events connecting Vietnamese exporters with Austrian importers; and builds Trade Office's website, as a digital promotion platform to introduce Vietnamese goods to Austrian enterprises.

- Vietnam - Austria High-Tech Cooperation and Innovation Forum 2025 is expected to promote and diversify trade and technology cooperation between Vietnam and Austria in particular and European countries in general. Could you please share a few details about this forum as well as your expectations for promoting two-way trade between Vietnam and Austria in the current difficult context?

Ms. Dinh Thi Hoang Yen: Embassy of Vietnam in Austria (EVN) in collaboration with Austrian Federal Economic Chamber (WKO) organized Vietnam - Austria Forum on High Technology and Innovation on 16 May 2025 in Vienna in both physical and online formats. This Forum is an important event to promote innovation and high-tech advancement between Vietnam and Austria in the fields of smart manufacturing, digital transformation and semiconductor and chip development. The Forum brings together pioneering companies, startups, investors, policy makers from both Austria and Vietnam, where ideas are exchanged and partnerships are formed, developing artificial intelligence (AI) solutions that enhance the human experience and shape economy of the future. This forum will be an important platform to promote and diversify trade and technology cooperation between Vietnam and Austria in particular and other European countries in general, shifting Vietnam's exports to a higher segment than traditional export relations. The event will expand potential for cooperation in technology transfer, long-term cooperation in human resource training, helping Vietnamese enterprises participate in global semiconductor supply chain, contributing to building the foundation for the future digital era, creating partnership models that can overcome economic uncertainties and address increasingly important sustainability requirements in European markets. This is also an opportunity for Vietnam to affirm its position as an ideal destination for Austrian and European technology enterprises, promote trade and technology joint ventures between Vietnam and European countries, and shape a new step forward for production capacity and high-tech development in Vietnam, positioning Vietnam as a reliable alternative in the European supply chain in the context of global efforts to diversify markets due to the impact of tariffs.

Thank you!

Source: Vitic/ congthuong.vn