Viet Nam, Switzerland harmonize shared interests for a green future

As Viet Nam accelerates market diversification and improves the quality of growth, seeking and promoting trade cooperation opportunities with Switzerland, a member of the European Free Trade Association (EFTA), is expected to help establish sustainable, green cooperation frameworks backed by abundant financial capital and advanced technology.

At the working session with Ms. Helene Budliger Artieda, Swiss State Secretary for Economic Affairs, Permanent Deputy Minister of Agriculture and Environment Trinh Viet Hung emphasized the overarching requirement for the FTA currently under negotiation: it must be tied to sustainable development, climate change adaptation and the promotion of innovation.

Viet Nam considers Switzerland a highly experienced partner in green economic development, particularly concerning smart agriculture, high technical standards, and environmental protection. As major markets like the EU continue to raise their technical standards, coordination between the two sides to build compatible technical standard systems is considered a strategic step.

Permanent Deputy Minister Trinh Viet Hung proposed that both sides promote specific programs, such as green and sustainable agricultural development, as well as climate change adaptation. Concurrently, they should implement innovative solutions to fulfill climate commitments and ensure a harmonization of interests.

Beyond policy, Viet Nam expects the working delegation led by Ms. Helene Budliger Artieda to act as a bridge between the businesses and governments of both countries, thereby expanding cooperation across economics, commercial services, education, culture and science and technology.

Switzerland is currently the 20th largest investor in Viet Nam, with a planned investment of approximately USD 50 million for the 2025-2028 period, focusing on trade, services, science and technology and innovation.

He noted that for many Vietnamese people, Switzerland represents a green, clean, and sustainably developed nation. Consequently, the trade agreement and bilateral cooperation programs aim not only at growth objectives but also at forging a green future for both economies, specifically, and the world globally.

Agreeing with this viewpoint, Ms. Helene Budliger Artieda expressed her desire to elevate Switzerland into the top 10 or top 15 leading investors in Viet Nam in the near future. According to the State Secretary, Swiss enterprises are not only interested in exporting but also in making long-term investments in Viet Nam, a market of over 100 million people with a young labor force that can serve as a bridge to regional markets.

She assessed Viet Nam as an excellent partner in emission reduction efforts and emphasized the private sector's role in implementing climate programs. Switzerland is particularly interested in trade involving low-carbon goods and expects these contents to be integrated into the FTA. At the meeting, both sides agreed to push for an early conclusion to the FTA negotiations between Viet Nam and the EFTA bloc. After 19 rounds of negotiations over 14 years, the two sides believe the remaining differences are minor and can be narrowed soon.

During the meeting, the State Secretary expressed high appreciation for Viet Nam's cooperative spirit and flexibility, especially in discussions on emerging international trade issues, such as sustainable development. She expressed her hope that Viet Nam and EFTA members will soon reach a consensus, advancing toward the conclusion of the agreement negotiations. The Swiss side expects the agreement to be signed in October 2026, coinciding with the Swiss President's visit, after securing continued support from Vietnamese ministries and sectors, including Industry and Trade, Finance, Home Affairs, and Foreign Affairs.

A key highlight of the negotiations is the establishment of a government-level cooperation framework on carbon credits and emissions reduction, creating a legal basis for businesses in both countries to implement specific projects.

"To do business safely, one needs good friends," the State Secretary emphasized, while also highly valuing Viet Nam's ability to balance trade with major powers, alongside Viet Nam's leading role in ASEAN as demonstrated through its year as CPTPP Chair.

Previously, during the 19th negotiation session for the FTA between Viet Nam and the EFTA bloc held in Geneva from February 24 to 27, Viet Nam and the countries of Switzerland, Norway, Iceland, and Liechtenstein noted significant progress in negotiations. Both sides reaffirmed their determination to finalize this FTA soon.

Permanent Deputy Minister Trinh Viet Hung expressed deep appreciation for the efforts of EFTA countries and acknowledged Ms. Helene's insights, hoping she would provide technical guidance to swiftly achieve a balanced result that brings practical opportunities and benefits to both sides. He also clarified Viet Nam's stance on several remaining areas of difference that the two sides need to work on narrowing in the near future.

Once signed and implemented, the Viet Nam - EFTA Free Trade Agreement will create a strong impetus for trade and investment cooperation between Viet Nam and leading developed European economies, contributing positively to regional supply chains and promoting sustainable growth.

Amidst fluctuating global trade, Viet Nam is determined to diversify its markets and partners. The relationship with Switzerland in particular and the EFTA bloc in general, is considered a crucial complementary step in this process.