Since Viet Nam and the Netherlands set up their diplomatic relations on April 9, 1973, the two sides have worked together to develop a sound friendship and cooperation across all fields, from politics, economy, and education to defense and security.

On the foundation of a trustful friendship, shared political determination, great cooperation potential and a supplementary economy, the ties between the two countries are to continue to blossom and bear fruit with a deepened and substantial comprehensive partnership.

The two sides set up a strategic partnership on climate change adaptation and water management in October 2010 and a strategic partnership on sustainable agriculture and food security in June 2014, while upgrading their ties to a comprehensive partnership during Dutch PM Mark Rutte's visit to Viet Nam in April 2019.

The Netherlands is one of the leading trading partners and investors of Viet Nam in Europe. Bilateral trade reached US$8.37 billion in 2021, and US$11.1 billion in 2022, up 32.6 percent compared to 2021. It was also the market that Viet Nam saw the second largest trade surplus with in 2022.

The implementation of the EU-Viet Nam Free Trade Agreement (EVFTA) from August 2020 has brought about great chances for businesses from both sides to expand their partnership. As a result, many Vietnamese farm produce have entered the EU with a preferential tax rate.

In terms of investment, as of March 2023, the Netherlands ranked eighth out of the 143 countries and territories investing in Viet Nam and first among the EU members, with 421 projects worth US$13.89 billion.

Regarding development cooperation, for decades the Netherlands is one of the biggest official development assistance (ODA) providers for Viet Nam among the EU member countries.