Switzerland steps up EFTA-Vietnam free trade agreement talks

Switzerland wants to further develop trade with Vietnam, whose economy has been growing at an above-average rate for several years now, according to Head of the Swiss Federal Department of Economic Affairs, Education and Research Guy Parmelin.

Mr. Parmelin is leading a business and science delegation to Japan and Vietnam. In Vietnam, negotiations on a FTA between EFTA countries including Iceland, Norway, Switzerland, Liechtenstein and Vietnam will top on the agenda. Trade between Vietnam and Switzerland amounted to around 2 billion USD last year, marking an increase of about 5 percent, making Vietnam Switzerland's fourth largest trading partner in Southeast Asia. Swiss companies have invested nearly 700 million USD in Vietnam, and are represented in numerous sectors. As Vietnam inked a FTA with the European Union, the country has accordingly met certain international standards, Parmelin said.

Source: VOV5