Reuters, AFP, and Berliner Tageszeitung reported that the agreement would give Vietnam greater access to alternative markets and diversify its import and export relations.
Reuters quoted Vietnam's trade ministry as saying Vietnam mainly exports seafood, footwear, textiles, machinery and equipment, electronics and components to the EFTA market and imports industrial machinery and equipment, chemicals, pharmaceuticals, and raw materials for production.
The agreement covers trade in goods and services, intellectual property rights, trade remedies and sustainable development, among other areas, AFP quoted both parties as saying.
SBS News, Channel News Asia, and The Nation linked the deal to broader efforts to reduce dependence on major trading partners and strengthen resilience to fluctuations in global trade.
DW, European Interest, and BriefAsia highlighted the potential for increased Vietnamese exports, higher-quality investment, and access to advanced technologies from EFTA economies. Closer ties with countries boasting strong financial resources and technological capabilities are expected to help Vietnam upgrade its production capacity, integrate more deeply into global value chains, and move toward higher value-added activities.
“Vietnam is one of the fastest-growing economies in Asia. This agreement will give Norwegian businesses better market access and greater predictability, and help them diversify as they create value and jobs here in Norway,” Norway’s Minister of Trade and Industry Cecilie Myrseth said on European Interest.
