Politics

Switzerland wants to step up EFTA-Vietnam FTA talks

Head of the Swiss Federal Department of Economic Affairs, Education and Research Guy Parmelin is leading a business and science delegation to Japan and Vietnam.
Switzerland wants to step up EFTA-Vietnam FTA talks ảnh 1Head of the Swiss Federal Department of Economic Affairs, Education and Research Guy Parmelin. (Photo: wbf.admin.ch)

Geneva (VNA) – Head of the Swiss Federal Department of EconomicAffairs, Education and Research Guy Parmelin is leading a business and sciencedelegation to Japan and Vietnam.

In Vietnam, the continuation of negotiations on a FTA between EFTAcountries – including Iceland, Norway, Switzerland and Liechtenstein – andVietnam will be at the top of the agenda.

According to the Swiss Federal Council, Parmelin is accompanied byrepresentatives from Swiss firms and the Swiss education, research andinnovation landscape and his Vietnam trip includes visits to a number ofeconomic development cooperation projects.

According to Parmelin, Switzerland wants to further develop trade withVietnam, whose economy has been growing at an above-average rate for severalyears now.

The annual volume of trade between Vietnam and Switzerland amounted toaround 2 billion CHF (2 billion USD) in 2018, an increase of about 5 percent.This makes Vietnam Switzerland’s fourth largest trading partner in SoutheastAsia.

Figures from the Swiss National Bank show that Swiss companies have sofar invested a total of around 690 million CHF (694 million USD) in Vietnam,and are represented in numerous sectors.

Switzerland has been Vietnam’s economic development partner for over 25years and is currently running 40 different projects.

As Vietnam inked a FTA with the European Union, the country has metcertain international standards, Parmelin said. –VNA
VNA
#Head of the Swiss Federal Department of Economic Affairs#Education and Research Guy Parmelin#switzerland#EFTA countries#Vietnam#free trade agreement#FTA#Vietnam news#Vietnamplus#Vietnam News Agency#visit to Vietnam
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