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 (Oct 18).

Vietnam’s trade ministry said it signed the deal in Hanoi with the European Free Trade Association (EFTA) members.

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

Long-stalled free-trade talks were relaunched in 2025 amid global tensions over US tariffs. Negotiations concluded in July.

Vietnam’s trade ministry said the South-east 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 US$2 billion annually, the ministry said. REUTERS