Vietnam, Norway look towards deeper trade ties through EFTA FTA progress

VOV.VN - Norwegian Ambassador to Vietnam Hilde Solbakken has expressed hope to see substantial progress in the Vietnam–EFTA Free Trade Agreement this year, paving the way for deeper trade and investment ties between the two countries, as Norway celebrates the 211th National Day (May 17, 1814 – May 17, 2025).

In Hanoi, various activities have been held to celebrate Norway’s National Day. The Ambassador shared that Norwegians traditionally gather with friends for breakfast on the occasion, and this year, the Norwegian Embassy in Vietnam also hosted a get-together with local partners and friends. In Norway, the day is typically marked by children’s parades and family or community gatherings across the country.

Regarding economic, trade, and investment cooperation, the diplomat said Vietnam–Norway relations have grown steadily across a variety of fields. Vietnam is currently Norway’s second-largest trading partner in ASEAN, after Singapore, with two-way trade exceeding US$450 million in 2024. Seafood exports from Norway to Vietnam topped US$250 million, up 16% year-on-year.

Therefore, Norway hopes that negotiations on the Free Trade Agreement (FTA) between Vietnam and the member states of the European Free Trade Association (EFTA – comprising Switzerland, Norway, Iceland, and Liechtenstein) will make remarkable progress, enabling both sides to expand trade and investment, the Ambassador said.

As of now, Norway has 60 direct investment projects in Vietnam, with a total registered capital surpassing US$200 million, ranking 40th among countries and territories investing in the country. Numerous Norwegian enterprises are actively contributing to bilateral cooperation, especially in the green and marine economy. Leading corporations and reputable funds such as Norway’s state-owned North Fund, have shown strong support for Vietnam’s green investment goals, particularly in sustainable agriculture and aquaculture, renewable energy, and plastic recycling. These entities are actively exploring and joining key projects in Vietnam.

In the energy sector, the Ambassador praised the close cooperation between the two countries in tackling global challenges such as climate change and marine conservation. Vietnam and Norway are also working together to accelerate green energy transition and ramp up cooperation in sustainable maritime transport.

According to Ambassador Solbakken, both Vietnam and Norway are highly open economies, heavily reliant on trade. Therefore, progress in the Vietnam–EFTA FTA negotiations is expected to inject fresh momentum into economic ties, bringing sustentative benefits to both sides.

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