Nation Thailand
EFTA and Vietnam conclude long-negotiated free trade agreement
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The European Free Trade Association ( EFTA ) said on Thursday (July 2) that it had brought free trade negotiations with Vietnam to a successful close, giving its four member states another way to widen commercial ties during a period of global tariff
Key facts
- The bloc, which comprises Iceland, Liechtenstein, Norway and Switzerland, said the agreement also spans rules of origin, investment, intellectual property rights, competition, trade remedies and government procurement.
- In August 2025, it was hit with the highest US tariffs in Europe after President Donald Trump introduced a broad package of import duties worldwide.
- Talks on the EFTA-Vietnam free trade agreement began in 2012 but stalled in 2018 after 16 negotiating rounds failed to deliver sufficient progress.
- The process was restarted in September 2025 and was completed after five further rounds.
Summary
The bloc, which comprises Iceland, Liechtenstein, Norway and Switzerland, said the agreement also spans rules of origin, investment, intellectual property rights, competition, trade remedies and government procurement.
Switzerland, EFTA’s biggest economy, has faced a difficult tariff backdrop.