Through connections facilitated by Economiesuisse and other agencies, a high-level Swiss business delegation met with a Vietnamese government delegation led by Deputy Prime Minister Nguyen Hoa Binh in Zurich on January 29.

The meeting underscored the close economic relationship between Switzerland and Vietnam, while highlighting the potential for even deeper cooperation between the two countries.

The article pointed out that with a trade volume of around CHF2.5 billion (US$3.2 billion), Vietnam is already Switzerland's third most important trading partner in the ASEAN region.

More than 100 Swiss companies are active in the country, creating more than 17,000 skilled jobs. Many of them are among the most attractive employers in the country and make a substantial contribution to Vietnam's socio-economic development.

The article outlined that Vietnam is becoming increasingly important for Swiss companies, both as a dynamic sales market and as a strategic business location in Asia. For years, the country has recorded high growth rates averaging over 6% and is playing an increasingly important role in global value creation as a production location.

Accordingly, numerous Swiss companies are planning to expand their existing commitments or make new investments. Switzerland currently ranks 22nd among foreign direct investors in Vietnam. The potential for expansion is considerable, particularly in the infrastructure sector.

The development of the recently announced International Financial Centre (IFC) in Ho Chi Minh City and Da Nang also opens up attractive prospects for Swiss companies.

In Zurich, the company representatives present took the opportunity to contribute their expectations and ideas for future cooperation.

A key topic of discussion was the untapped potential of bilateral economic relations. Even closer cooperation could promote sustainable economic, environmental and social progress in both countries. However, this requires one crucial step such as the rapid conclusion of the free trade agreement between Vietnam and the European Free Trade Association (EFTA) states, including Switzerland.

This agreement is of central importance for Swiss companies. They are currently at a disadvantage compared to competitors from the EU or the United Kingdom, as both already have free trade agreements with Vietnam.

A successful conclusion would strengthen bilateral trade and encourage additional investment, especially against the backdrop of increasing protectionist tendencies worldwide.

According to Economiesuisse’s assessment, the progress made last November in Da Nang during the 18th round of negotiations is encouraging. After more than 14 years of intensive talks, there is now justified hope that the remaining outstanding issues will soon be resolved and a breakthrough achieved.

Switzerland plans to expedite FTA negotiations with Vietnam

VOV.VN - Swiss President Karin Keller-Sutter has emphasized the importance of free trade agreements for Switzerland and EFTA members, expressing the desire to accelerate FTA negotiations with Vietnam.