The College of Foreign Economic Relations under the Ministry of Industry and Trade was upgraded from the Central School of Foreign Economic Relations under Decision No. 48/TTg dated on January 24, 1997 of the Prime Minister and Decision No. 0883/BTM-QĐ dated on March 07, 1997 of the Ministry of Trade.

The college is a training and fostering center for officials at college level, and professional and vocational level, conducting research and experiments in science and technology to serve the training, production, business and service of the commerce industry and society, contributing to the socio-economic development and the education and training of the country.

The college cooperates with domestic and foreign training establishments in training and scientific research, organizes academic conferences, and provides consulting and commercial services for social and economic organizations.

The College of Foreign Economic Relations was upgraded from the Central College of Foreign Economic Relations, merged from other schools through the following different stages:

December, 1976: The High School of Materials II was established under Decision No. 1058/VT-QĐ dated on December 28, 1976.

September, 1976: The Commercial High School of Can Tho was established under Decision No. 26/TN-QĐ dated on September 05, 1976

April, 1977: The High School of Foreign Trade was established and later renamed the School of Foreign Economic Relations.

November, 1990: The Central High School of Foreign Trade was established under Decision No. 1100/TN/QĐ dated on November 24, 1990 on the basis of merging the three schools: the Commercial High School of Can Tho, the Commercial High School of Thu Duc and the High School of Materials II.

December, 1995: The Central School of Foreign Economic Relations was established on the basis of merging the Central High School of Commerce III and the School of Foreign Economic Relations.

January, 1997: The Central School of Foreign Economic Relations was upgraded to the College of Foreign Economic Relations under Decision No. 48/TTg dated on January 24, 1997.