Hanoi (VNA) – The official visit to Vietnam from October 17 - 18 by Swiss President Guy Parmelin and his spouse marks an important milestone as the two countries are celebrating the 55th anniversary of diplomatic ties (October 11, 1971-2026), and is expected to open up a new stage of cooperation for mutual benefit.
The trip is being made at the invitation of General Secretary of the Communist Party of Vietnam Central Committee and President To Lam and his spouse.
55 years of enduring friendship
Despite the geographical distance, Switzerland has long maintained close ties with Vietnam. Their relations date back to the second half of the 19th century, when Swiss trading companies, including Diethelm and Biedermann, established their presence in Vietnam. Switzerland also hosted the 1954 Geneva Conference on Indochina, providing the Democratic Republic of Vietnam with an opportunity to participate in multilateral diplomacy for the first time and laying a foundation for bilateral diplomatic ties.
Following the establishment of diplomatic relations on October 11, 1971, Switzerland opened its Embassy in Hanoi in February 1973 and a Consulate in Ho Chi Minh City in March 1994. Vietnam opened its consulate in Geneva in July 1984, upgraded it to a Consulate General in December 1994, and inaugurated its Embassy in Bern in November 2000.
Over the past 55 years, the two countries have developed into reliable and effective partners across various fields. Exchanges and high-level meetings have strengthened political trust and created favourable conditions for bilateral cooperation. In January 2025, the two sides elevated their ties to a Comprehensive Partnership, providing fresh impetus for deeper and more effective collaboration.
At a meeting on the sidelines of the 81st session of the United Nations General Assembly in New York on September 22, General Secretary and President Lam, and President Parmelin agreed on the need to translate the Comprehensive Partnership framework into concrete cooperation projects. They also highlighted the potential for collaboration in agriculture, biotechnology, green energy and digital economy.
The top Vietnamese leader called on Switzerland to facilitate greater investment by Swiss businesses in Vietnam, particularly in finance and banking, manufacturing, pharmaceuticals and innovation. He also proposed Switzerland share its experience and support Vietnam in developing financial technology, international financial centre, digital finance, blockchain and high-quality human resources.
The two leaders set a target of raising bilateral trade to more than 2 billion USD by 2030 and agreed to strengthen coordination and mutual support at multilateral forums, including the United Nations, the Association of Southeast Asian Nations (ASEAN) and the Asia-Europe Meeting (ASEM).
Promising economic and trade cooperation
Switzerland is an important European trading partner of Vietnam, while the latter is one of the former’s key trading partners in ASEAN. Bilateral trade reached 811.2 million USD in 2024 and 1.04 billion USD in 2025, and totalled 716 million USD in the first eight months of 2026.
A major development is the conclusion of negotiations on a free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein, on July 2, 2026, after 14 years of negotiations. The agreement is expected to expand trade and investment ties, support sustainable development and create new opportunities for businesses and citizens of both sides.
As of October, Switzerland ranked 6th among European investors and 20th among 153 countries and territories investing in Vietnam, with 244 projects worth a total of 2.49 billion USD. Around 100 Swiss corporations and businesses are currently operating in Vietnam, including Nestlé, Novartis, Roche and ABB.
Switzerland is also among the few Western European countries that continue to provide official development assistance (ODA) to Vietnam. Since 1992, its development assistance has exceeded 800 million USD. In May 2025, Switzerland pledged 50 million USD for its development cooperation programme with Vietnam for 2025-2028.
Beyond economic ties, the two countries have considerable potential for cooperation in education, training, innovation, sustainable development, culture and tourism. Vietnam’s visa exemption policy for Swiss tourists, introduced in 2025, has also helped promote people-to-people exchanges and tourism. Meanwhile, the Vietnamese community in Switzerland, numbering around 10,000, continues to contribute to friendship and cooperation between the two countries.
Towards a new phase of cooperation
Vietnamese Ambassador to Switzerland Chau Mai Anh described President Parmelin’s visit as an important milestone in advancing bilateral relations towards deeper political engagement, more substantive economic cooperation and broader opportunities for future collaboration. The expected signing of the Vietnam-EFTA FTA in Hanoi during the visit will represent a significant breakthrough in economic ties and create more favourable conditions for businesses to invest and expand their presence in each other’s markets.
Swiss Ambassador to Vietnam Thomas Gass also highlighted the visit and the anticipated signing of the FTA as major milestones demonstrating the results of decades of persistent cooperation. He noted that the agreement will provide a common policy framework, strengthen business confidence, protect intellectual property, encourage innovation and facilitate trade through tariff reductions, particularly benefiting small- and medium-sized enterprises.
Gass emphasised that the visit will provide an opportunity to deepen cooperation in trade and investment, science and technology, innovation, finance and sustainable development, alongside exchanges on regional and international issues of shared concern./.
