Politics · Singapore Bureau
Vietnam clinches free-trade deal with four European nations
Norway, Switzerland, Iceland and Liechtenstein have completed negotiations on a free-trade agreement with Vietnam, marking an expansion of trade ties between Southeast Asia and Europe. The accord was announced by the Norwegian and Vietnamese governments on Sunday.
LSN Singapore ·
The four European nations—Norway, Switzerland, Iceland and Liechtenstein—have formally signed a free-trade agreement with Vietnam, according to joint announcements from Hanoi and Oslo. The deal represents a significant commercial milestone for Vietnam as it diversifies its trade partnerships beyond established markets in Asia and North America.
The agreement encompasses tariff reduction and regulatory harmonisation across goods and services, providing Vietnamese exporters with improved market access to the European nations while offering European businesses expanded opportunities in Vietnam's growing economy.
The pact follows Vietnam's participation in multiple regional and bilateral trade frameworks, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership. The agreement with the four European nations underscores Vietnam's strategy of deepening economic integration with developed markets globally.
Details regarding the specific tariff schedules, implementation timeline and sectoral provisions of the agreement were not immediately disclosed. The deal now enters a ratification phase in the respective parliaments and governmental bodies of the signatory nations.