Switzerland working hard on planned FTA between Vietnam, EFTA

02 Jul '23

2 min read

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Switzerland is working hard on a free trade pact between Vietnam and the European Free Trade Association, comprising Switzerland, Norway, Iceland and Liechtenstein, president of the National Council of Switzerland Martin Candinas recently said in Hanoi.
Both countries discussed ways to reinforce links in innovation, green economy and sustainable development.

Switzerland is working hard on a planned free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA), whose members are Switzerland, Norway, Iceland and Liechtenstein, according to president of the National Council of Switzerland Martin Candinas.

Candinas recently visited Vietnam and met the latter’s minister of industry and trade Nguyen Hong Dien.

The signing of that FTA, under negotiation for more than 10 years, will be a prerequisite and a useful tool for enterprises on both sides to grasp opportunities for development cooperation, facilitate trade in goods and boost bilateral investment flows, the leaders were quoted as saying by a news agency.

Both leaders felt that bilateral relations in economy, trade and investment should be further promoted, and discussed ways to reinforce links in innovation, green economy and sustainable development.

The Vietnamese minister requested Candinas to support Vietnam’s efforts to attract high-quality investment, especially in the industries that Switzerland is strong at and Vietnam has demand for.

He also sought help to develop fundamental industries in Vietnam like material, chemical, mechanical, supporting, processing and manufacturing industries.

Swiss investment in these sectors should be made in tandem with manpower training and technology transfer to help Vietnam reach the US Sustainable Development Goals, he added.

Fibre2Fashion News Desk (DS)

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