According to data provided by EFTA, bilateral trade between the two regions reached EUR 4.8 billion in 2025.
European Free Trade Association
The European Free Trade Association (EFTA), which includes the European countries of Iceland, Liechtenstein, Norway, and Switzerland, has concluded negotiations for a Free Trade Agreement (FTA) with the Socialist Republic of Viet Nam. The agreement will strengthen trade relations by reducing or eliminating tariffs, facilitating trade, and promoting sustainable development.
The ministerial discussions leading to the agreement involved Þorgerður Katrín Gunnarsdóttir, Minister for Foreign Affairs of Iceland; Espen Barth Eide, Minister of Foreign Affairs of Norway; Sabine Monauni, Deputy Prime Minister and Minister of Foreign Affairs of Liechtenstein; Guy Parmelin, President and Head of the Federal Department of Economic Affairs, Education and Research of Switzerland; and Nguyen Sinh Nhat Tan, Deputy Minister of Industry and Trade of Viet Nam.
The agreement covers key areas including trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, investment, intellectual property rights, public procurement, sustainable development, SMEs, and cooperation.
“By ensuring more predictable conditions, I am confident that the EFTA–Viet Nam agreement will open up new commercial opportunities for businesses across the EFTA States and Viet Nam,” said the Norwegian Minister.
In addition, Vice Minister Nguyen Sinh Nhat Tan highlighted: "With its comprehensive and high-standard commitments, the agreement will help create a stable, transparent, and predictable business environment, further facilitating the flow of trade, investment, technology, and knowledge between both sides."
According to data provided by EFTA, bilateral trade between the two regions reached EUR 4.8 billion in 2025, while Viet Nam's trade surplus rose to EUR 2.5 billion, up from EUR 0.5 billion a decade earlier. Moreover, fish was among the main exports from the EFTA States to Viet Nam, with fish products also recording strong growth during the same period.
