In the light of the global decline of multilateralism and the U.S.-China trade war, Southeast Asia is one of many regions where the European Union (EU) should act as a cooperative, value-based partner and promote free trade and democracy. The EU has committed itself to a new free trade agreement (FTA) with Vietnam but has on the other side partially withdrawn “Everything but Arms” trade preference (EBA) for products imported from Cambodia – in both cases the argument of human rights was brought forward. Economic and geopolitical interest of the EU in Vietnam as a partner in the region became evident.