Switzerland steps up EFTA-Vietnam free trade agreement talks
(VOVWORLD) - 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.
Head of the Swiss Federal Department of Economic Affairs, Education and Research Guy Parmelin. (Photo: wbf.admin.ch) |
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.