Vietnam-EFTA FTA Concludes, Opening New Avenues for Seafood Exports

Vietnam and the European Free Trade Association (EFTA) have officially concluded their Free Trade Agreement (FTA) negotiations after 14 years. This agreement opens up new opportunities for the Vietnamese seafood export sector to penetrate top European developed markets, characterized by high purchasing power and stringent standards. The conclusion of the FTA marks a significant step in Vietnam's export strategy. Seafood is a key export item for Vietnam, and EFTA member states (Switzerland, Norway, Iceland, and Liechtenstein) represent markets with high demand for quality agricultural and aquatic products. Previously, market entry into these regions faced challenges such as tariffs, non-tariff barriers, and the need to comply with strict quality and hygiene standards. However, the FTA is expected to significantly reduce these barriers. The Vietnamese government plans to leverage this agreement to further enhance export competitiveness by improving the added value and strengthening quality control of seafood products. This is anticipated to boost the growth of the entire agricultural, forestry, and fishery sectors, contributing to domestic economic revitalization. Specific measures are expected to further promote the export of agricultural, forestry, and aquatic products in the latter half of 2026. Source: Nhan Dan