On August 5, 2025, Vietnamese President Lương Cường and Egyptian President Abdel Fattah El‑Sisi signed a joint statement formally elevating bilateral relations to a Comprehensive Partnership, ushering in a new era for cooperation after six decades of diplomatic ties.
Both leaders reaffirmed their commitment to deepening political trust and implementing breakthrough measures across sectors including trade, investment, education, science and technology, green transition, digital transformation, defense, and cultural exchange.
They agreed to establish a working group to explore a potential Vietnam–Egypt Free Trade Agreement (FTA) and greenlight expanded cooperation in education, tourism, local development, fintech, and halal industries.
Vietnam will open its market to select Egyptian goods, while Egypt — positioned at the crossroads of Africa, Asia, and Europe — pledged to serve as a gateway for Vietnamese businesses across the Middle East and Africa. Meanwhile, Vietnam aims to act as a strategic partner to access ASEAN markets.
Bilateral trade reached US $541.4 million in 2024, marking Vietnam’s highest trade volume in North Africa, with Vietnam holding a substantial trade surplus. Vietnam also holds correspondent banking ties with Egypt and has Vietnamese enterprises investing locally.
Vietnam’s leadership anticipates this level‑up will enhance mutual support in forums like the UN, NAM, AU, and ASEAN, fostering regional stability and cooperation between Southeast Asia and the Middle East‐African region.
Source: africanews.com
