Business · Vietnam Bureau
Vietnam and EFTA conclude landmark trade agreement after 14-year talks
Vietnam has signed a free trade agreement with the European Free Trade Association, marking a significant expansion of economic cooperation between the Southeast Asian nation and four European countries. The deal is expected to unlock fresh export opportunities, particularly for Vietnamese seafood producers.
LSN Vietnam ·
The long-awaited trade pact between Vietnam and EFTA—comprising Norway, Switzerland, Iceland, and Liechtenstein—concludes negotiations that spanned 14 years, reflecting the complexity and breadth of issues addressed in the agreement.
Norwegian Ambassador Stein Iversen told media representatives that the extended timeline underscores both the intricate nature of the negotiations and the comprehensive scope of bilateral cooperation the parties sought to establish. He emphasized that the duration of talks demonstrates the commitment of all parties to strengthening their economic and political ties.
The agreement is positioned to generate significant commercial benefits for Vietnam, particularly in the seafood sector, where exporters stand to gain improved market access across EFTA member nations. The pact is also expected to accelerate broader bilateral trade growth and create new investment opportunities for both sides.
The trade agreement represents a strategic expansion of Vietnam's economic partnerships with developed European economies and reinforces the country's role as a key trade partner in Southeast Asia. Officials from both Vietnam and EFTA are expected to move toward ratification and implementation of the agreement in the coming months.