Switzerland plans to expedite FTA negotiations with Vietnam

During a recent annual meeting organized by the Association of Foreign Press in Switzerland and Liechtenstein (APES) in Bern, Swiss President Karin Keller-Sutter addressed prominent domestic issues, including the country’s relationship with the European Union (EU), US tariffs, and policies toward the Middle East.

Responding to questions about expectations for a Free Trade Agreement (FTA) between the European Free Trade Association (EFTA) members (Iceland, Liechtenstein, Norway, and Switzerland) and Vietnam, President Keller-Sutter said, “I met with Vietnamese Prime Minister Pham Minh Chinh earlier this year in Davos. Our intention and expectation are to expedite the negotiations. Progress is being made, and I believe an agreement will benefit all parties. There is a clear trend toward promoting free trade agreements. For Switzerland in particular, and EFTA as a whole, such agreements play an important role.”

Earlier in her speech, President Keller-Sutter warned of rising global instability and current challenges to multilateral systems. She emphasized: “The political and economic situation is highly unstable, a topic widely discussed. Free trade and multilateralism are being seriously tested. Switzerland is not a member of any major political or trade bloc, but Bern consistently values maintaining close ties with the EU, Switzerland’s largest trading partner. The consultation phase on a new agreement package with the EU has concluded, and the government will review feedback before submitting it to the Parliament. A popular vote could take place in 2027.”

According to President Keller-Sutter, Switzerland is promoting exports by targeting new markets. She noted that Bern is actively negotiating new free trade agreements and modernizing existing ones. This year alone, Switzerland has signed new agreements with Thailand, Malaysia, and the Southern Common Market (MERCOSUR), while updating its trade deal with Ukraine. Existing FTAs with China, the United Kingdom, Mexico, and the Southern African Customs Union are also being updated.

Source: VOV