Vietnam's geographical location in Asia, with good access to India, China and south east Asia, leaves it well placed to trade with its fast growing neighbors.

Vietnam's fastest growing export destinations in the decade to 2030 will be China, India and Malaysia. The country’s exports to all these markets are expected to grow by at least 14 per cent per year.

Vietnam is ranked 75th out of 189 economies on the ease of trading across borders, well ahead of both China and India. The ranking reflects Vietnam’s role as a regional trading hub and its efforts to dismantle barriers to free trade.

Although the US was still Vietnam’s largest export market in 2013, signs are that China will overtake it to become Vietnam’s largest export destination by 2030. Vietnam’s location and strong foothold in both clothing and telecom means it is well-placed to access this buoyant consumer market.

Yet the US and Vietnam enjoy historically strong commercial linkages. By 2030 the US will account for 15 per cent of Vietnam’s exports. Vietnam and the United States are two of the 12 countries currently negotiating the Trans-Pacific Partnership. When the agreement is finalized, Vietnam’s exports will become even more competitive in the US, probably boosting trade between the two countries.