Switzerland identifies Viet Nam as priority partner in Southeast Asia

The Federal Council said cooperation between Switzerland and the Southeast Asian country is to be placed on a new footing.

It stated that the partnership aims to consolidate political dialogue and deepen economic relations “in a sustainable and structured manner”. This includes support for the conclusion of a free trade agreement (FTA) between the European Free Trade Association (EFTA) and Vietnam, as well as the modernisation of the existing investment protection agreement.

According to the Swiss government, another priority is cooperation in the fields of education, science, research, innovation and technology.

The statement also promotes economic partnerships in sectors such as sustainable infrastructure, renewable energy, digitalisation, sustainable finance and intellectual property.

Furthermore, exchanges between the civil societies of both countries are to be strengthened while cooperation at the multilateral and regional levels will also be expanded.

Talking to VNA reporters at an event hosted by the Swiss-Vietnamese Economic Forum (SVEF) in Zurich, Director of Switzerland’s State Secretariat for Economic Affairs Helene Budliger Artieda expressed optimism that Viet Nam and the EFTA will soon bridge remaining differences to finalise the FTA, thereby giving new momentum to bilateral cooperation.

She noted the FTA negotiations have entered their final stages and voiced confidence in reaching an agreement shortly.

Recalling her visit to Viet Nam earlier this year, Artieda lauded Viet Nam as a dynamic economy characterised by impressive growth, a highly potential domestic market, and strong manufacturing capabilities. She held that these factors render Viet Nam highly attractive to Swiss enterprises, not only for trade but also for long-term investments.

Echoing the view, Swiss Ambassador to Viet Nam Thomas Gass said the signing of the EFTA – Viet Nam FTA will open up a new chapter in bilateral relations, emphasising that the signing of an FTA is not the end of a project but just the beginning.

He stressed the importance of assisting businesses in navigating rules and procedures to fully capitalise on the opportunities presented by the agreement.

He affirmed that the Swiss Embassy in Viet Nam will continue to facilitate linkages between the Swiss and Vietnamese economies through partners such as Switzerland Global Enterprise to support Swiss small and medium-sized enterprises (SMEs) to enter the Vietnamese market.

Additionally, the ambassador highlighted the SVEF as a powerful conduit for fostering connections between the business communities of both nations.

Meanwhile, Marco Forster, Executive Director of Ascentium and SVEF Representative in Ha Noi, assessed Viet Nam as one of the most integrated and connected economies in Southeast Asia thanks to its extensive network of FTAs.

He perceived that the FTA between Viet Nam and the EFTA, which comprises Switzerland, Norway, Liechtenstein, and Iceland, will serve as a critical missing piece to complete Viet Nam’s economic integration network. This, in turn, will further elevate Viet Nam’s standing among the world's most open and interconnected economies.

Forster anticipated that the pact will unlock further opportunities for the business communities, particularly SMEs, of both Viet Nam and Switzerland in investment and trade. He also acknowledged Viet Nam’s robust development in recent years, which has positioned the country as one of Southeast Asia’s leading export hubs.