70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Switzerland supports trade agreement between Vietnam and EFTA
Ngoc Thuy 15:04, 2020/01/21
The trade deal would create favorable conditions for greater cooperation in trade and investment between the two countries.

Vietnam and Switzerland have agreed to accelerate negotiations on a trade agreement between the Southeast Asian nation and the European Free Trade Association (EFTA), of which Switzerland is a member, the governmental portal reported.

 Deputy Prime Minister Truong Hoa Binh (l) and Switzerland's Vice President Guy Parmelin (r). Source: VGP. 

The trade deal would create favorable conditions for greater cooperation in trade and investment between the two countries, said Deputy Prime Minister Truong Hoa Binh in a meeting with Vice President and Head of the Department of Economic Affairs, Education and Research of Switzerland Guy Parmelin in Geneva on January 20.

The meeting was held on the sideline of the annual 50th World Economic Forum in Davos, as well as in preparation for the 50th anniversary of establishment of Vietnam-Switzerland diplomatic relations in 2021.

In 2019, bilateral trade turnover reached US$2.7 billion, while Switzerland is investing in  157 projects in Vietnam with registered capital of US$1.95 billion, standing 19th out of 132 countries and territories having direct investment in Vietnam.

Both leaders said the two governments would continue to promote and support cooperation between businesses from two countries, particularly in Vietnam’s priority fields that Switzerland has strong expertise, including finance-banking, insurance, manufacturing and processing, pharmacy, agriculture, and tourism, among others.

Deputy PM Binh thanked Switzerland’s support through cooperation programs in the fields of human resources training, urban and rural development, and poverty reduction.

Binh asked Switzerland to continue supporting Vietnam in achieving sustainable development goals, focusing on reforming the banking-finance sector, enhancing capacity in global integration, international trade, insurance, tackling climate change, and enhancing sustainable development of tourism.

Binh and Parmelin exchanged views on cooperation in education and learning Swiss experience in establishing high quality education system, while facilitating cooperation agreement between Vietnam’s Ministry of Science and Technology and the Swiss State Secretariat for Education, Research and Innovation.

The two countries shared the same view in resolving territorial disputes in the South China Sea and other regions via peaceful means and international laws, including the 1982 United Nation Convention on the Law of the Sea (UNCLOS).

 Deputy PM Truong Hoa Binh in a meeting with Governor of Bern Christoph Ammann. Source: VGP. 

In a separate meeting with Governor of Bern Christoph Ammann, Vietnam's Deputy PM asked the city of Bern and its business community to continue supporting the negotiations on a trade deal between Vietnam and the EFTA.

In response, Ammann said the city fully supports the Swiss government’s efforts in the negotiation process and would continue to cooperate with major cities in Vietnam, including Hanoi and Ho Chi Minh City. 

TAG: Vietnam Switzerland EFTA Bern Guy Parmelin Truong Hoa Binh UNCLOS South China Sea territorial disputes education trade economy
Other news
16:01, 2024/02/27
Vietnam to have 50 million e-wallets in 2024: Report
From 2018 to 2023, the number and value of transactions through e-wallets consistently grew at double-digit rates, with annual growth rates of 80.4% and 83.5% respectively.
14:48, 2024/02/26
Vietnam gears up efforts to establish domestic carbon market
The move would help achieve Vietnam’s net-zero emissions target by 2050.
08:16, 2024/02/22
Vietnam’s fruit exports gain momentum in early 2024
The export turnover is forecast to reach a record high of US$6.5 billion this year.
15:11, 2024/02/21
Vn-Index towards 1,300 in 2024: SSI
This is expected to be a year of significant volatility, with a strong recovery possibly following deep correction.
20:10, 2024/02/10
Hanoi public transport poised for breakthrough
With good vehicle quality and services, electric buses have made many passengers willing to switch from motorcycles and cars to buses.
21:01, 2024/02/08
Positive outlook for Vietnam’s consumer spending in 2024: Fitch Solutions
Vietnamese household spending is anticipated to exhibit robust growth throughout 2024, as real economic expansion resumes its more stable trajectory.