Vietnam and the European Free Trade Association (EFTA)—comprising Iceland, Liechtenstein, Norway and Switzerland—have signed a free trade agreement in Hanoi, aiming to expand market access and strengthen economic cooperation.
Vietnam said the agreement supports a rules-based trading system, diversifies import and export markets, and strengthens integration into global value chains.
Key developments:
- Customs duties will be eliminated or reduced on a range of industrial, agricultural and fish products.
- The agreement covers goods, services, intellectual property, trade remedies and sustainable development.
- EFTA-Vietnam trade totalled €4.8 billion last year, with machinery, pharmaceuticals, fish, footwear and apparel among key traded products.
The agreement follows negotiations that began in 2012 and reflects efforts by both sides to diversify trade partnerships amid evolving global trade conditions.
ℹ️ AFP
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