(VOVworld) - President of the Council of States of Switzerland Ivo Bischofberger began an official visit to Vietnam on Tuesday. The visit reflects Switzerland’s desire to boost its cooperation with Vietnam.

President of the Council of States of Switzerland Ivo Bischofberger

During his 3-day visit, Mr. Bischofberger will meet with Vietnamese National Assembly Chairwoman Nguyen Thi Kim Ngan, President Tran Dai Quang, and leaders of the Ministry of Industry and Trade and the Ministry of Education and Training.

Effective bilateral cooperation

Since diplomatic ties were established in 1971, Vietnam and Switzerland have strengthened bilateral cooperation. Switzerland has supported Vietnam’s development and international integration, especially in administrative reforms, agricultural development, poverty reduction, and health care, and has helped Vietnam fulfill its Millennium Development Goals.

Bilateral trade has grown remarkably in recent years. Switzerland is a major trading partner of Vietnam in Europe. It has granted Vietnam its Most Favored Nation Status and Generalized System of Preferences. Since May, 2012, Vietnam has held 12 rounds of negotiations on a free trade agreement with Switzerland, Norway, Iceland, and Liechtenstein. Switzerland intends to sign the agreement soon.

In the first 7 months of 2016, bilateral trade was valued at 731 million USD, up 85% from 2015. Switzerland has 100 investment projects worth 2 billion USD in Vietnam centered on processing and manufacturing industries and gas, water and electricity. Vietnam is one of Switzerland’s 8 ODA recipients with committed aid of 90 million USD from 2016 to 2020.

The two countries have carried out cooperation projects in environmental education and Master and Doctorate training in finance, banking, and business management. They signed a MOU on education and training cooperation during former President Nguyen Minh Triet’s visit to Switzerland in 2010.

Vietnam and Switzerland have strengthened parliamentary cooperation. Former National Assembly Chairman Nguyen Sinh Hung and NA Vice Chairwoman Tong Thi Phong visited Switzerland in 2014 and last October respectively. During the tow visits, the two legislative bodies pledged to share experience, consult, and strengthen cooperation at international forums. The two have set up a Bilateral Friendship Parliamentary Group.

Prospects for further cooperation

Mr. Bischofberger’s visit will strengthen the bilateral friendship and multifaceted cooperation. The two sides will discuss ways to increase parliamentary cooperation bilaterally and multilaterally. Mr. Bischofberger will meet leaders of the Vietnamese Ministry of Industry and Trade and the Ministry of Education and Training to promote the pending free trade agreement between Vietnam and the EU and the development of Vietnamese education.