The signing ceremony was witnessed by General Secretary of the Communist Party of Vietnam and State President To Lam, along with leaders and representatives of EFTA member states, including Swiss President and Minister of Economic Affairs Guy Parmelin, Liechtenstein Prime Minister and Minister of Finance Brigitte Haas, Icelandic Foreign Minister Þorgerður Katrín Gunnarsdóttir, and Norwegian State Secretary at the Ministry of Foreign Affairs Astrid Bergmål.
The agreement marks an important milestone in relations between Vietnam and EFTA, whose members are global leaders in innovation. It also reflects both sides’ determination to strengthen economic cooperation, promote free trade and reinforce the rules-based trading system amid continuing global economic uncertainties.
The Vietnam-EFTA Free Trade Agreement covers trade in goods and services, investment, intellectual property, government procurement, competition, small and medium-sized enterprises, dispute settlement, and trade and sustainable development.
The agreement is expected to help Vietnam diversify its export and import markets, enhance business competitiveness and integrate more deeply into global value chains. It is also expected to attract high-quality investment, advanced technologies and management expertise from leading European economies.
Furthermore, the deal is expected to create new opportunities for cooperation and drive economic growth, innovation and sustainable development, bringing tangible benefits to people and businesses in Vietnam and EFTA member states.
Economic, trade and investment ties between Vietnam and EFTA member states have continued to grow, with bilateral trade averaging nearly 2 billion USD a year. Vietnam’s main exports to EFTA markets include seafood, footwear, textiles and garments, machinery, electronics and components. Imports from EFTA include machinery, industrial equipment, chemicals, pharmaceuticals and production materials.
As of the end of 2025, Switzerland had 234 investment projects in Vietnam, with total registered capital exceeding 2.4 billion USD. Norway had 62 projects worth more than 201 million USD. EFTA businesses and investors are also considering major projects in Vietnam in areas such as innovation, high technology, logistics and precision engineering.
