Vietnam urges swift implementation of trade pact with EFTA
Prime Minister Hung called for bilateral trade with Switzerland to double and encouraged more Swiss investment in Vietnam.
Vietnamese Prime Minister Hung called for Vietnam and Switzerland to work together to get the forthcoming VEFTA trade agreement into effect quickly, during a Hanoi meeting with Swiss President Guy Parmelin, Vietnam’s Ministry of Foreign Affairs said.
Vietnam and the European Free Trade Association are preparing to sign the agreement. Hung sought a doubling of trade between Vietnam and Switzerland and urged Swiss investors to expand in sectors including finance, manufacturing, biotechnology and pharmaceuticals.
He also proposed setting up an intergovernmental cooperation mechanism spanning economic affairs, science, technology and innovation. The leaders agreed to use VEFTA to widen investment ties, with seaport infrastructure among the areas identified.
Parmelin said the pact would help businesses build connections and expand investment and trade, particularly smaller companies. He offered Swiss expertise in fields including insurance, reinsurance, precision machinery and advanced technology.
The Swiss president suggested a connection between Crypto Valley in Switzerland and Vietnam’s innovation ecosystem, aimed at collaboration on blockchain, AI and quantum technology. He also highlighted vocational programmes tailored to employers’ requirements and said Switzerland was willing to ease visa arrangements for Vietnamese citizens.
The countries identified education, science, technology and innovation as central to their cooperation. They also agreed on closer work covering emissions cuts, the green transition, agricultural research, sustainable farming and water management and reuse.
