Hanoi (VNA) – International media outlets have described the signing of a free trade agreement between Vietnam and the European Free Trade Association (EFTA), comprising Norway, Switzerland, Iceland and Liechtenstein, as an opportunity to expand trade and investment, and reflecting efforts by the parties to diversify economic ties and strengthen resilience amid global trade uncertainties.
UK-based Reuters, France-based AFP and Germany-based Berliner Zeitung reported that the agreement will give Vietnam more market options, diversify its import-export relations and help mitigate risks arising from protectionist measures imposed by major trading partners.
Australia-based SBS News, Singapore’s Channel News Asia and Nation Thailand linked the deal to the need to reduce dependence on major trading partners and respond to fluctuations in global trade.
Meanwhile, Germany-based DW, European Interest and BriefAsia highlighted prospects for expanding exports, attracting high-quality investment and accessing advanced technologies from EFTA economies.
Stronger ties with countries boasting substantial financial resources and advanced technologies are expected to help Vietnam upgrade its production capacity, integrate more deeply into global value chains and shift towards higher value-added activities. SBS News noted that the EFTA’s population, GDP and position in global trade could bring significant advantages to Vietnam as the two sides establish free trade relations.
BriefAsia placed the agreement within Vietnam’s broader economic integration process, following major trade frameworks such as the EU-Vietnam Free Trade Agreement (EVFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP). From this perspective, the deal will not only open up new markets but also provide opportunities to access capital, technology and advanced equipment to improve the quality of economic growth.
European media have also highlighted benefits for EFTA businesses seeking greater access to the Vietnamese market amid global trade uncertainty and efforts by countries to diversify their economic relations.
Meanwhile, China's Xinhua and SBS News focused on implementation provisions and market-opening schedules, including Vietnam’s 11-year tariff-reduction period, a phase-out period of up to 16 years for tariffs on certain EFTA agricultural products, and provisions on customs procedures, technical barriers and investor treatment.
Berliner Zeitung quoted experts as saying the agreement reflected efforts to translate economic integration into greater strategic autonomy by developing alternative trade relationships rather than relying excessively on the largest partners. European Interest, meanwhile, highlighted opportunities for EFTA companies to expand in a fast-growing Southeast Asian economy, thereby boosting trade, investment and job creation.
According to official information on efta.int, the comprehensive agreement covers trade in goods and services, investment, intellectual property, government procurement, sustainable development, support for small- and medium-sized enterprises, and cooperation and capacity-building. It therefore provides a basis for expanding bilateral cooperation beyond tariff reductions.
EFTA data show that Vietnam-EFTA trade reached 4.8 billion EUR (5.38 billion USD) in 2025, with Vietnam recording a trade surplus of 2.5 billion EUR. This existing trade volume provides a foundation for both sides to further tap trade and investment potential once the agreement takes effect.
Notably, the message of strengthening a rules-based trading system featured in Vietnam’s official statements and was echoed by several media outlets. This indicates that the agreement is viewed not only in terms of economic benefits but also as part of broader efforts to maintain stable and more predictable trade cooperation mechanisms./.
VNA
