Vietnam, Switzerland to further boost economic, trade, investment ties

The meeting between Minister of Industry and Trade Nguyen Hong Dien and President of the National Council of Switzerland Martin Candinas in Hanoi on June 30. (Photo: VNA)

Hanoi (VNA) – Minister of Industry and TradeNguyen Hong Dien and President of theNational Council of Switzerland Martin Candinas had a meeting in Hanoi on June 30, sharing the view that the twocountries should further step up economic, trade, and investment links.

Dien appreciated Switzerland’s assistance for industrialand energy projects, international economic integration, and small- andmedium-sized enterprises of Vietnam, describing this as a precious resource forthe Southeast Asian country’s development and integration process over the pastyears.

Candinas, who is paying an official visit to Vietnam from June 27 to 30, said Switzerland alwaysattaches importance to and wishes to further enhance bilateral cooperation,especially in economy and trade, and that it is working hard towards thesigning of a free trade agreement (FTA) between Vietnam and the European Free TradeAssociation (EFTA), which gathers Switzerland, Norway, Iceland, and Liechtenstein.

Minister of Industry and Trade Nguyen Hong Dien (front, second from right) speaks at the meeting in Hanoi on June 30. (Photo: VNA)

Both sides shared the view that bilateralrelations in economy, trade, and investment have been growing well in therecent past but still have much potential, and the two countries should furtherpromote these ties.

The signing of an FTA that the parties concernedhave negotiated for more than 10 years will be a prerequisite and also a usefultool for their enterprises to grasp opportunities for development cooperation,facilitate trade in goods, and boost bilateral investment flows, they said.

On this occasion, Dien and Candinas discussed directions fortrade, investment, and development partnerships in the coming time so as to reinforcelinks in innovation, green economy, and sustainable development.

The Minister also called on the President ofthe Swiss National Council to support Vietnam’s efforts to attract high-qualityinvestment, especially in the industries that Switzerland is strong at andVietnam has demand for.

President of the National Council of Switzerland Martin Candinas (front, second from left) at the meeting. (Photo: VNA)

He asked the European country, with its advantages andexperience in automation, precision mechanics and high technology, willincrease investment in projects of those sectors in Vietnam to help connect thelatter with global production and supply chains.

Dien also asked for help with the development of fundamentalindustries in Vietnam such as the material, chemical, mechanical, supporting,processing, and manufacturing industries, adding that Swiss investment in thesesectors should be made in tandem with manpower training and technology transferto help Vietnam reach the sustainable development goals.

Concluding the meeting, the two sides agreed to continuereinforcing partnerships in the fields of Switzerland’s strength and Vietnam’sdemand. They also affirmed the determination to step up the signing of an FTAbetween Vietnam and the EFTA to create breakthroughs in bilateral trade andinvestment./.

VNA