The European Free Trade Association (EFTA) and Vietnam have concluded negotiations on a free trade agreement, marking a significant step toward deeper economic integration between the bloc and Southeast Asia.
The deal was finalized following a ministerial conference held in Reykjavik, Iceland, in June, which served as the final stage of talks aimed at reducing trade barriers across multiple sectors.
Under the terms of the agreement, tariffs on a wide range of goods will be phased out progressively.
For Swiss exporters, this includes key products such as watches, chocolate, and cheese, which have historically faced higher duties in the Vietnamese market.
The removal of these tariffs is expected to enhance the competitiveness of Swiss goods in Vietnam, a market that has seen growing demand for premium consumer products.
The signing follows a broader trend of trade liberalization in the region, with European Union member states recently granting final approval for a separate trade agreement with the United States.