Vietnam signs free trade agreement with Switzerland, Norway, Iceland and Liechtenstein
The Vietnam-EFTA agreement, signed in Hanoi after 14 years of talks, will cut tariffs on most goods once it enters into force.
Vietnam and the four member states of the European Free Trade Association (EFTA), Switzerland, Norway, Iceland and Liechtenstein, signed a free trade agreement in Hanoi on Sunday 18 October, after 14 years of negotiations, the two sides said.
The agreement covers trade in goods and services, investment, intellectual property, government procurement, small and medium-sized enterprises, and trade and sustainable development, according to EFTA. It has been signed but has not yet entered into force; each country must first complete its own approval procedures.
Vietnam’s Minister of Industry and Trade, Lê Mạnh Hùng, signed for Vietnam. Swiss President Guy Parmelin, Liechtenstein Prime Minister Brigitte Haas, Norwegian State Secretary Astrid Bergmål and Icelandic Foreign Minister Þorgerður Katrín Gunnarsdóttir signed for the EFTA states, EFTA said. Vietnam’s party General Secretary and President, Tô Lâm, attended the ceremony.
According to EFTA, trade between the EFTA states and Vietnam was worth €4.8 billion in 2025, with a €2.5 billion surplus in Vietnam’s favour, excluding Swiss trade in gold.
Norway’s government said about half of Norwegian exports to Vietnam would be tariff-free when the agreement takes effect, and more than 98% within seven years. It said Vietnam currently charges tariffs of up to 15% on Norwegian salmon and mackerel; salmon would enter tariff-free from the start, and mackerel tariffs would be phased out over three years.
Vietnam’s main exports to EFTA countries include seafood, footwear, textiles, machinery and electronics, state broadcaster Voice of Vietnam reported, citing the industry and trade ministry.
Sources
- EFTA and Viet Nam Sign Free Trade Agreement · European Free Trade Association
- Free trade agreement with Viet Nam signed, opening up new opportunities for Norwegian businesses · Government of Norway, Ministry of Foreign Affairs
- Vietnam and EFTA pen landmark free trade agreement in Hanoi · Voice of Vietnam (VOV)
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