Vietnam signs free trade agreement with Norway, Switzerland, Iceland and Liechtenstein

Vietnam signed a free trade agreement with Norway, Switzerland, Iceland and Liechtenstein on Sunday, 18 October 2026. The governments of Vietnam and Norway announced the agreement. Deutsche Welle (DW) and Reuters both reported the signing.

According to DW, the agreement was signed in Hanoi. DW reported that Vietnam's Trade Ministry said it signed the deal with the European Free Trade Association (EFTA). EFTA's four members are Norway, Switzerland, Iceland and Liechtenstein. None of them is a member of the European Union.

According to DW, official talks between Vietnam and EFTA began in 2012. They were interrupted in 2018 and resumed in 2025.

What the deal covers

According to DW, the agreement waives or reduces customs duties, including on imports of industrial, fish and agricultural products. DW reported that, according to the signing parties, the deal also covers trade in goods and services, intellectual property rights, trade remedies and sustainable development, among other areas.

DW cited a statement from the Norwegian government. According to that statement, about half of Norway's exports to Vietnam will be tariff-free under the deal. The share is set to rise to more than 98% within seven years.

According to EFTA, as reported by DW, trade between EFTA and Vietnam was worth €4.8 billion ($5.4 billion) in 2025. DW describes Vietnam as Southeast Asia's fastest-growing economy.

What each side says

The Government of Vietnam said in a statement, according to DW, that the agreement showed the parties' resolve to "reinforce the rules-based trading system amid continued volatility in the global economy". The statement said the deal was expected to help Vietnam "diversify its import and export markets" and "integrate more deeply into global value chains".

The reports reviewed by Vocemundi do not include statements from the governments of Switzerland, Iceland or Liechtenstein, or from EFTA itself beyond trade figures.

What the reports do not say

• When the agreement will enter into force, or what ratification steps remain.
• Which officials signed the agreement.
• Tariff timelines for Vietnam's exports to EFTA countries, or for exports from Switzerland, Iceland and Liechtenstein to Vietnam.
• Why the talks were interrupted in 2018, or what led to their resumption in 2025.

The reports do not quote the Norwegian government statement or the agreement text directly. The Reuters item reviewed by Vocemundi is a short summary, so its full reporting could not be checked. Most details in this article come from DW.

Analysis

The agreement adds four non-EU European economies to Vietnam's list of trade partners. Vietnam's government presents it as a way to diversify markets and deepen its role in global value chains. Its practical effect will depend on details the reports do not yet include. These include when the deal enters into force, which ratification steps remain, and how tariff cuts apply to each country and to Vietnamese exports. The Norwegian figures suggest a phased approach, but they cover only one of the four EFTA members. Further statements from the other parties could clarify the deal's scope and timing.

Produced by the Vocemundi newsroom with AI assistance.