Vietnam advances with non-EU free trade deals

Vietnam and four countries from the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland) have reached a free trade agreement aimed at diversifying markets and reducing reliance on traditional partners, especially in light of global trade disruptions caused by U.S. tariffs. The agreement includes the elimination or reduction of tariffs on imports of industrial, agricultural, and marine products, covering trade in goods and services, intellectual property rights, and trade measures. Its goal is to enhance Vietnam's integration into global value chains and increase its capacity to export its products. The signing comes after more than a decade of negotiations and is expected to support Vietnam’s efforts to diversify its trade relationships and reduce dependence on China and the United States.

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