France and Vietnam Sign Historic $10 Billion Trade Agreements

French President Emmanuel Macron has landed in Vietnam and left with a suitcase of deals worth over $10 billion—a figure that has tongues wagging in Paris and Hanoi alike. His first-ever visit to the Vietnamese capital was marked by handshakes and pen-to-paper moments as France and Vietnam rolled out more than 30 new agreements covering everything from shiny new airplanes to future-facing green energy projects.

The showstopper here is VietJet's headline-grabbing purchase of 20 Airbus A330neo wide-body jets. This single contract alone clocks in at about €7 billion ($7.8 billion), continuing the budget airline's streak as a repeat customer for Airbus. For France, it locks in its Airbus aerospace edge in Southeast Asia and delivers a much-needed boost to its aviation sector. VietJet had already gone in on a previous batch of 20 European-built jets, so this isn’t their first dance with Airbus. But now, they’re looking to expand international routes and tap into Vietnam’s surging demand for travel, tourism, and global business links.

Yet the agreements span far wider. On the defense front, France and Vietnam agreed to deepen cooperation, especially in advanced technology and joint projects involving defense equipment and space tech. Talk about timing: both countries have been eyeing ways to guard their interests while bigger powers throw their weight around the Indo-Pacific region. Macron made it clear—he sees this as France turning “a new page” in its partnership with Vietnam, and he’s not just talking planes.

Vietnam, feeling the pinch from recent U.S. tariff threats (a possible 46% on Vietnamese goods and up to 50% on products sent from the EU), is hungry to keep its trade doors wide open. Washington has been warning Hanoi over its growing trade surplus with the U.S., and Vietnam’s even floated the idea of buying Boeing jets to keep American officials happy. France spotted the opening and stepped in with a fresh offer and a promise of more than just business as usual.

Beyond aviation and defense, France has inked deals involving nuclear energy exploration, expansion of railway and maritime infrastructure, and joint initiatives on everything from pharmaceuticals to space research and green energy innovation. These projects don’t just create sales—they send a strong message. Paris is signaling that it wants to be more than Europe’s representative in the region; it wants to be a trusted partner for Asia in an age of big-power rivalry and shifting alliances.

France's Indo-Pacific Playbook and the Geopolitical Backdrop

Macron isn’t just making deals; he’s making a play for Europe’s place in Asia’s future. His three-country tour (Vietnam, Indonesia, Singapore) is all about showing both Asian leaders and the wider world that France can deliver stability, investment, and new links at a time when everyone’s watching the uneasy dance between the U.S. and China. These trade deals position France, and by extension the wider European Union, as a balance against global heavyweights.

The defense and aerospace projects fall into France’s Indo-Pacific strategy—think of this as France searching for stronger security and diplomatic stakes beyond its own backyard. For Vietnam, the deals offer more leverage in a region where economic and security risks are only rising. Strategic autonomy isn’t just a buzzword for officials in Hanoi: it’s a daily reality as they navigate U.S. tariffs, Chinese influence, and now, growing connections with a reinvigorated French partner.

The upshot? While America dangles tariffs and China flexes its muscles, France is betting on deals, partnerships, and being the one at the table offering long-term investment and a steady diplomatic hand. These agreements show that cautious, calculated engagement—plus a big, bold Airbus contract—can still move billions and reshape relationships far from home.