Signing of the Free Trade Agreement between Viet Nam and the member states of the European Free Trade Association (EFTA)

The EFTA representatives included Guy Parmelin, President of the Swiss Confederation and Head of the Federal Department of Economic Affairs, Education and Research; Brigitte Haas, Prime Minister and Minister of General Government Affairs and Finance of Liechtenstein; Thorgerdur Katrin Gunnarsdottir, Minister for Foreign Affairs of Iceland; and Astrid Bergmal, State Secretary at Norway's Ministry of Foreign Affairs.

The signing marks a significant milestone in relations between Viet Nam and EFTA, whose members are among the world's leading economies in innovation. It also reflects the determination of both sides to strengthen economic cooperation, promote free trade and reinforce the rules-based trading system amid continued volatility in the global economy.

The Viet Nam - EFTA Free Trade Agreement is a comprehensive agreement covering a broad range of important areas, including trade in goods (tariffs, technical barriers to trade, sanitary and phytosanitary measures, customs procedures and trade remedies), trade in services, investment, intellectual property, government procurement, competition, small and medium-sized enterprises, dispute settlement, and trade and sustainable development.

With its extensive commitments and diverse areas of cooperation, the agreement is expected to create new opportunities for Viet Nam to diversify its export and import markets, enhance the competitiveness of domestic enterprises and deepen their participation in global value chains. It is also expected to attract high-quality investment, advanced technologies and management expertise from leading European economies.

Economic, trade and investment relations between Viet Nam and EFTA member states have continued to develop positively, with bilateral trade averaging nearly USD 2 billion annually. The trade structures of the two sides are highly complementary, reflecting their respective strengths and market demands. Viet Nam's principal exports to EFTA markets include seafood, footwear, textiles and garments, machinery and equipment, electronics and components, while its imports from EFTA mainly comprise machinery, industrial equipment, chemicals, pharmaceuticals and raw materials for production.

Investment cooperation between the two sides has also continued to expand. As of the end of 2025, Switzerland had 234 investment projects in Viet Nam with total registered capital exceeding USD 2.4 billion, while Norway had 62 projects with total registered capital of more than USD 201 million. Numerous major corporations and investors from EFTA member states have established a presence and operated effectively in Viet Nam across such sectors as manufacturing, food, pharmaceuticals, energy and technology. EFTA enterprises and investors are also planning to cooperate on and invest in several major projects in Viet Nam in areas including innovation, high technology, logistics and precision engineering.

The Viet Nam - EFTA Free Trade Agreement is expected to unlock new opportunities for cooperation and provide fresh impetus for economic growth, innovation and sustainable development, thereby delivering tangible benefits to people and business communities in Viet Nam and EFTA member states.