The agreement is expected to open a new phase of cooperation, promote trade, investment, and expand cooperation in many areas between Vietnam and the four EFTA member countries of Switzerland, Norway, Iceland, and Liechtenstein.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan called the agreement it a comprehensive and modern free trade agreement covering trade in goods, trade in services, rules of origin, and trade facilitation. It aims to eliminate or reduce tariffs, create a stable, transparent, and predictable business environment, and boost sustainable development.
Given its comprehensive commitments and high standards, the agreement will lay the foundation for bringing economic relations between Vietnam and EFTA countries to a new stage of development, while strongly promoting trade, investment, technology, and knowledge flows between the two sides, Deputy Minister Tan said.
The conclusion of negotiations provides a basis for both sides to soon sign and implement the agreement so as to strengthen economic connectivity and expand cooperation opportunities for the business community.
