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Vietnam signs free-trade pact with European countries including Norway, Switzerland

World News

18-10-2026 | 00:45

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Vietnam signs free-trade pact with European countries including Norway, Switzerland

Norway, Switzerland, Iceland and Liechtenstein have signed a free-trade agreement with ‌Vietnam, the governments of Norway and Vietnam announced on Sunday.

Vietnam's trade ministry said it signed the deal in Hanoi with the European Free Trade Association ⁠members.

Around half of Norway's exports to Vietnam will be tariff-free when the agreement enters into force, with more than 98% to be tariff-free within seven years, the Norwegian government said in a statement.

Long-stalled free-trade talks were relaunched last year amid global ‌tensions ⁠over U.S. tariffs. Negotiations concluded in July.

Vietnam's trade ministry said the Southeast Asian country mainly exports seafood, footwear, textiles, machinery and equipment, electronics ⁠and components to the EFTA market and imports industrial machinery and equipment, chemicals, pharmaceuticals, and ⁠raw materials for production.

Bilateral trade between Vietnam and EFTA member countries has ⁠averaged $2 billion annually, the ministry said.

Reuters

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