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Trade prospects between Vietnam and EFTA

Trade relations between Vietnam and the four EFTA countries, including Switzerland, Norway, Iceland and Liechtenstein, have made significant progress. Vietnam is considered a very potential partner of EFTA.

On September 23rd, in Nha Trang City (Khanh Hoa), more than 40 delegates representing enterprises, state management agencies and policy makers in Vietnam and representatives of the Embassies of Norway , Switzerland attended the Seminar on "Free Trade Agreement (FTA) between Vietnam and EFTA: Negotiations and prospects for strengthening trade relations."

The workshop was organized by the Ministry of Industry and Trade of Vietnam with funding from the Multilateral Trade Assistance Project (MUTRAP).

Vietnam is considered an emerging economy, with average GDP growth of 7-8% per annum, improved infrastructure and political stability. Vietnam's consumption is projected to increase by 10% annually and will triple the current level by 2025.

Recently, trade relations between Vietnam and four EFTA member countries have remarkable development. This year, Vietnam expects to export about $ 2.3 billion worth of goods to Switzerland and import about $ 559 million from the country.

Ms Thea Ottmann - First Secretary, Norwegian Embassy in Vietnam said that after 50 years of establishment, the EFTA block with a total population of 13 million, but GDP of nearly $ 1,000 billion a year and a large partner. third of the European Union (EU).

EFTA has signed free trade agreements with 31 countries and territories with major export sectors including seafood, pharmaceuticals, machinery and services.

Thea Ottmann said Vietnam is a very potential partner of EFTA. Between the two sides recently formed a mixed group to study the feasibility of the idea of ​​establishing an FTA, developing the process and content of the negotiations.

Le Van Dao, vice president of the Vietnam Textile and Garment Association, said that in 2009, Vietnam's textile and garment exports reached $ 9.2 billion, contributing 15% of GDP and over 17% of export turnover. country.

The signing of the FTA with the EFTA will create opportunities for the development of Vietnam's textile and apparel exports as EFTA links with the EU and the EU has been the main market for Vietnamese textiles and garments.

The workshop noted that the negotiation and conclusion of the FTA between Vietnam and EFTA has a great demand in the context of the current economic and trade relations. This is the basis for strengthening trade relations between the two sides. 

( Vietnam +)