News about EFTA

On the morning of 18 October in Hanoi, General Secretary and State President To Lam witnessed the signing of a free trade agreement between Vietnam and the member states of the European Free Trade Association (EFTA), including Liechtenstein, Switzerland, Iceland and Norway. The agreement is comprehensive, covering goods, services, investment, intellectual property, government procurement, competition, SMEs, dispute settlement and sustainable development. Bilateral trade currently averages nearly US$2 billion a year, with Vietnam mainly exporting seafood, footwear, textiles, machinery and electronics. The deal is expected to diversify export markets, strengthen competitiveness and attract high-quality investment and technology.