EFTA and Vietnam Conclude Free Trade Agreement Negotiations

The European Free Trade Association (EFTA), representing Iceland, Liechtenstein, Norway, and Switzerland, concluded negotiations for a free trade agreement with Vietnam on July 2, 2026. The comprehensive accord addresses investment, intellectual property rights, competition, government procurement, trade remedies, and rules of origin.

Negotiations for the deal originally began in 2012 but stalled in 2018. The process was relaunched in September 2025 as EFTA members sought to diversify their commercial relations. This shift occurred after President Donald Trump implemented worldwide import duties in August 2025, which left Switzerland facing the highest US tariffs in Europe.

Guy Parmelin, President of Switzerland, announced the conclusion of the deal during a visit to North America. By 2025, bilateral trade between EFTA and Vietnam had reached €4.8 billion, with Vietnam holding a trade surplus of €2.5 billion.