Việt Nam, EFTA step up free trade agreement negotiations

Việt Nam, EFTA step up free trade agreement negotiations

The EFTA side highly appreciated Việt Nam’s efforts and its market access proposals, while reaffirming the bloc’s traditional strengths in promoting private investment and technology transfer.

The Vietnamese delegation and representatives of Switzerland discuss key issues during the 19th round of negotiations for the Free Trade Agreement (FTA) between Việt Nam and the European Free Trade Association. — VNA/VNS Photo

The 19th round of negotiations for the free trade agreement (FTA) between Việt Nam and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein, is taking place in Geneva with highly positive signals, reflecting strong political determination on both sides to conclude the deal at an early date.

At a bilateral meeting with Switzerland on Wednesday, the two sides discussed key outstanding issues. They acknowledged significant progress across core areas, including trade in goods, services and investment, intellectual property, sustainable development, and government procurement. To accelerate the process, both sides agreed not to introduce new issues into the negotiations and to focus on flexibly resolving remaining differences.

The EFTA side highly appreciated Việt Nam’s efforts and its market access proposals, while reaffirming the bloc’s traditional strengths in promoting private investment and technology transfer.

Technical teams from both sides are now intensifying legal reviews and finalising remaining procedures, with the aim of concluding negotiations and potentially signing the agreement at the upcoming EFTA Ministerial Conference in Iceland this June.

Once signed, the Việt Nam-EFTA free trade agreement is expected to provide a major boost to trade and investment ties, expanding cooperation with some of Europe’s most advanced economies and contributing positively to supply chains and sustainable growth. 

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