On the morning of October 18, in Ha Noi, Minister of Industry and Trade Le Manh Hung met with Guy Parmelin, President of the Swiss Confederation and Head of the Federal Department of Economic Affairs, Education and Research, during the latter's official visit to Viet Nam from October 17 to 18. The two sides discussed measures to facilitate the early implementation of the Viet Nam - EFTA Free Trade Agreement (VEFTA), promote trade and investment, and expand cooperation into new areas.

The meeting was also attended by Helene Budliger Artieda, Swiss State Secretary for Economic Affairs and Director of the State Secretariat for Economic Affairs (SECO); Thomas Gass, Ambassador of Switzerland to Viet Nam; leaders of Swiss industry associations and major corporations; and representatives of relevant units under the Ministry of Industry and Trade (MoIT).

At the meeting, Minister Le Manh Hung warmly welcomed President Guy Parmelin and the high-level Swiss delegation to Viet Nam on the occasion of the 55th anniversary of diplomatic relations between the two countries (October 11, 1971 - 2026), as their Comprehensive Partnership continues to gain momentum. The Minister expressed his appreciation for the President's direct guidance, which helped bring negotiations on the Viet Nam - EFTA Free Trade Agreement to a successful conclusion on July 2, 2026, following more than 14 years and 21 formal negotiating rounds. The agreement was subsequently signed in Ha Noi on the morning of October 18, 2026, in the presence of Party General Secretary and State President To Lam.

Switzerland is currently Viet Nam's largest trading partner within the European Free Trade Association (EFTA). According to Swiss statistics, bilateral trade reached approximately USD 3.5 billion in 2025, an increase of nearly 26%. Meanwhile, data from Viet Nam Customs showed that two-way trade amounted to USD 806.2 million in the first nine months of 2026, up 6.9% year-on-year. As of September 30, 2026, Switzerland had 247 valid investment projects in Viet Nam, with total registered capital of approximately USD 2.5 billion, ranking 20th among 154 countries and territories investing in the country.

Expediting the entry into force of the Viet Nam - EFTA FTA

Minister Le Manh Hung affirmed that MoIT would work closely with relevant ministries and agencies to promptly submit the agreement's implementation plan and related legal documents to the Government for approval and issuance. He proposed that the two sides regularly exchange updates on their respective ratification processes and called on the EFTA states, including Switzerland, to complete the necessary procedures at an early date, with a view to bringing the agreement into force at the beginning of 2027.

To enable businesses on both sides to capitalize on opportunities arising from the agreement, the Minister urged Switzerland and other EFTA members to prioritize and coordinate activities aimed at disseminating information about the FTA to enterprises, particularly small and medium-sized enterprises (SMEs). He also called for Swiss and EFTA assistance programmes to be aligned with the agreement's implementation and for cooperation to be explored in areas such as rules of origin, sanitary and phytosanitary (SPS) measures, and technical barriers to trade (TBT). The Minister reaffirmed that, as a responsible partner, Viet Nam would fully implement its commitments under the agreement, including those relating to intellectual property rights.

Expanding trade, investment and cooperation in emerging sectors

To realize the goal of doubling bilateral trade by 2030, as agreed by the two countries' senior leaders, Minister Le Manh Hung called on Switzerland to facilitate market access for Vietnamese agricultural products, seafood and processed foods. He also encouraged major Swiss distribution networks to increase their purchases of Vietnamese products and urged continued support for Vietnamese enterprises through the Swiss Import Promotion Programme (SIPPO) and the Trade Policy and Export Promotion Project (SwissTrade).

The Minister expressed his hope that Swiss enterprises would expand investment in sectors where Switzerland possesses competitive advantages and Viet Nam has substantial demand, including precision engineering, supporting industries, food processing, renewable energy, commercial infrastructure and logistics. He reaffirmed Viet Nam's commitment to working closely with Switzerland to expedite the finalization of a bilateral cooperation agreement under Article 6 of the Paris Agreement and effectively implement SECO's Cooperation Programme for Viet Nam 2025 - 2028. He also called for broader cooperation in science and technology, innovation, smart factories and the regulation of commodity derivatives trading markets.

Switzerland attaches importance to economic cooperation with Viet Nam

President Guy Parmelin expressed his appreciation for the warm and respectful reception extended by Viet Nam and MoIT, while commending the Ministry's role in the negotiations leading to the Viet Nam - EFTA Free Trade Agreement.

The President affirmed that Switzerland would advance the ratification process, encourage Swiss enterprises to expand their investment and business activities in Viet Nam, and continue supporting the country through SECO's cooperation programmes. The two sides also discussed reviewing and updating their bilateral agreement on the promotion and protection of investments, alongside opportunities for cooperation in areas of mutual strength, including SMEs and vocational training.

At the conclusion of the meeting, both sides agreed to task their relevant authorities with maintaining regular exchanges on the progress of the agreement's approval and ratification processes, while translating the cooperation initiatives discussed into concrete actions. These efforts are expected to contribute to a more substantive and effective Viet Nam-Switzerland Comprehensive Partnership.