During a visit to Việt Nam between April 20 and 24, two members of a parliamentary delegation from the Parliamentary Committee of the European Free Trade Association (EFTA) talks to the local media on prospects for co-operation between Vietnamese and European businesses once the EFTA-Việt Nam Free Trade Agreement comes into force, as well as the agreement’s anticipated contribution to the country’s green transition

The visit took place against the backdrop of negotiations on the proposed EFTA-Việt Nam Free Trade Agreement entering their final stages, following a 19th round of talks that yielded a number of positive outcomes in Geneva from February 24 to 27, 2026.

In your view, what concrete cooperation opportunities will the EFTA-Việt Nam Free Trade Agreement create for businesses on both sides once it comes into force?

Nikolai Astrup, Member of Norwegian Storting, Head of EFTA Parliamentary Committee delegation — Photo courtesy of the EFTA Parliamentary Committee delegation

Nikolai Astrup, Member of Norwegian Storting, Head of EFTA Parliamentary Committee delegation

I think an FTA would bring great opportunities for both sides: The EFTA countries have advanced technology businesses, businesses that operate within the maritime space, technology space, and not least in the energy sector, and these are all areas where Việt Nam has expressed that they want more cooperation. We have a lot to offer and the FTA would make further cooperation in these areas possible. And then, of course, Việt Nam is quickly turning into an economic powerhouse in Southeast Asia. We are impressed by the scale and the rapid growth in Việt Nam. Việt Nam has a vibrant business community that has a lot to offer for both business-to-business cooperation with EFTA countries, but also business-to-consumer relations.

Damian Müller, Member of Swiss Parliament

From a Swiss parliamentary perspective, this visit comes at a particularly timely moment. While we are not part of the negotiating team - this is the role of our respective governments - our responsibility as parliamentarians is to accompany the process politically, to build trust, and to ensure that we are well informed ahead of the eventual ratification stage.

In Switzerland, free trade agreements must be approved by Parliament and may also be subject to a popular vote. This means that political understanding and public support are essential. Visits like this therefore play a crucial role: they allow us to engage directly with our Vietnamese counterparts, better understand their perspectives and priorities, and explain the expectations and sensitivities on our side. At a time when the global trading system is under pressure, strengthening rules-based cooperation and advancing free trade agreements with partners such as Việt Nam is of clear strategic importance. This visit is a concrete contribution to that objective.

Việt Nam is accelerating its transition toward higher value-added industries and green growth. How can EFTA businesses contribute to this transformation?

Nikolai Astrup, Member of Norwegian Storting, Head of EFTA Parliamentary Committee delegation

Việt Nam is on a journey towards greater prosperity and economic maturity. This is a journey that we can assist Việt Nam in because we have businesses that operate with know-how and expertise that will be essential for that journey. One example is in the energy sector. We just heard plans from HCMC today to move into offshore wind.

We have lots of expertise in offshore wind in Norway. The Swiss have a lot of expertise in advanced manufacturing. Both the Swiss and Liechtenstein have a vibrant financial sector with a lot to offer Việt Nam. And of course, Iceland is very, very strong in the maritime sector, and Việt Nam has a long coastline, with lots of opportunities. So I think a free trade agreement would make both parties stronger and it's something that we need to get done fast.

Damian Müller, Member of Parliament from Switzerland. — VNS Photo Kim Thanh

Damian Müller, Member of Swiss Parliament

We see encouraging progress in the negotiations. Talks were first launched in 2012, so, after more than a decade, it is clear that both sides have invested considerable effort into reaching a balanced and mutually beneficial agreement.

Việt Nam has developed into a highly dynamic and increasingly important economic partner, with strong growth and deep integration into global value chains. This is also reflected in the growing economic relationship between Switzerland and Việt Nam. Bilateral trade has increased steadily in recent years, reaching close to CHF3 billion (US$3.8 billion) in 2025.

Swiss exports to Việt Nam rose to over CHF620 million ($789 million), while imports amounted to roughly CHF 2.3 billion ($2.9 billion). Of course, complex negotiations require time, especially when both sides seek high-quality outcomes. From our perspective, the fact that negotiations have reached a 20th round is a strong signal of commitment. We are confident that an agreement is within reach if the current momentum is maintained.

What are the key expectations of EFTA business communities regarding the free trade agreement with Việt Nam?

Nikolai Astrup, Member of Norwegian Storting, Head of EFTA Parliamentary Committee delegation

A free trade agreement would provide stable framework conditions, which is crucial for EFTA businesses if they want to enter into a new market and make investments. They need to know that the Government has stable policies. So far, Việt Nam has shown very great promise in that area. It is also important that we have a level playing field with other European countries. And that's why it is important for us to have an FTA soon, because today we don't have that. So for EFTA businesses to really engage and step up their game in Việt Nam, I think these are the crucial elements of stable and good framework conditions.

Damian Müller, Member of Swiss Parliament

For parliaments, preparation for ratification can start even before an agreement is formally concluded. Our role is to understand the substance of the agreement, assess its implications, and ultimately explain and defend it in our respective political systems.

In Switzerland, this process is particularly important: Parliament must approve the agreement, and in some cases the public has the final say. This means that we must be able to demonstrate clearly how the agreement benefits our economy, while also addressing concerns, for example regarding environmental and social sustainability, market access, or sensitive sectors. This visit allows us to build political relationships, deepen mutual understanding, and gather first-hand insights that will later be useful in parliamentary debates. In that sense, parliamentary diplomacy complements the formal negotiations and helps ensure that, once an agreement is reached, it also has a solid political foundation for ratification. — VNS