VEFTA Agreement Signed Between Vietnam and EFTA Offers New Opportunities in Science and Technology

Signed on October 18, 2026, between Vietnam and the European Free Trade Association (EFTA), the Vietnam-EFTA Free Trade Agreement (VEFTA) offers new possibilities for deep cooperation in science, technology, and innovation while supporting the Politburo's development orientation No. 57-NQ/TW.

Signed on October 18, 2026, between Vietnam and EFTA member states Switzerland, Norway, Iceland, and Liechtenstein, the VEFTA Agreement brings together strong points in technology, finance, and R&D within knowledge-intensive sectors. The agreement combines Switzerland's expertise in pharmaceuticals and biotechnology, Norway's clean energy and maritime technology, Iceland's geothermal technology, and Liechtenstein's manufacturing industry with Vietnam's development needs.

Associate Professor Dr. Dao Ngoc Tien, Vice President of the Foreign Trade University, stated that VEFTA establishes an institutional framework with commitments to investment, intellectual property, and capacity building. Experts note that the agreement can play a strategic transformative role not only by increasing trade volume but also regarding technology transfer, the development of domestic suppliers, and the training of highly skilled human resources.