Vietnam has locked in a free-trade deal with Norway, Switzerland, Iceland, and Liechtenstein, opening the door for tariff-free access on the vast majority of Norwegian exports within seven years.
The pact, signed Sunday in Hanoi, connects Vietnam with the four nations that make up the European Free Trade Association. Talks had stalled for years but restarted in 2024 as global trade tensions escalated over U.S. tariff policies. Negotiators reached a final agreement in July.
Once the deal takes effect, roughly half of Norway’s shipments to Vietnam will enter duty-free. That figure climbs beyond 98 percent within seven years, according to the Norwegian government.
Vietnam’s trade ministry outlined the core exchange. Southeast Asian exports to EFTA markets center on seafood, footwear, textiles, machinery, electronics, and components. Meanwhile, Vietnam imports industrial machinery, chemicals, pharmaceuticals, and raw materials used in manufacturing.
Annual two-way trade between Vietnam and the EFTA bloc has held steady at about $2 billion, Vietnamese officials noted.
As a result, both sides gain a more predictable trading framework at a moment when tariff uncertainty has rattled global supply chains. The agreement now moves toward ratification, with implementation timelines expected to follow once domestic approval processes wrap up.
