Key facts
- Vietnam and EFTA nations signed a free trade agreement on October 18, 2026.
- The deal aims to reduce customs duties on industrial, fish, and agricultural products.
- Bilateral trade between Vietnam and EFTA countries averaged $2 billion annually.
- Over 98% of Norwegian exports to Vietnam will be tariff-free within seven years.
Vietnam and four European nations outside the EU – Norway, Switzerland, Iceland, and Liechtenstein – signed a free trade agreement in Hanoi on Sunday, October 18, 2026. The deal, announced by the governments of Norway and Vietnam, aims to diversify markets amid global trade tensions. The agreement, which covers areas including government procurement, intellectual property rights, and investment, will eliminate or reduce customs duties on imports of industrial, fish, and agricultural products. Bilateral trade between Vietnam and EFTA member countries has averaged $2 billion annually. Long-stalled free-trade talks were relaunched last year and concluded in July 2026.