Federal Councillor Guy Parmelin meets with Vietnamese First Deputy Prime Minister

Bern, 20.01.2020 - Federal Councillor Guy Parmelin, the head of the Federal Department of Economic Affairs, Education and Research (EAER), met with Vietnamese First Deputy Prime Minister Truong Hoa Binh in Bern on 20 January. Key topics discussed were economic relations and the free trade negotiations between EFTA and Vietnam.


In the run-up to the annual meeting of the World Economic Forum (WEF), Federal Councillor Guy Parmelin met with Vietnamese Deputy Prime Minister Truong Hoa Binh in Bern. Switzerland and the other EFTA member states have been seeking to conclude a free trade agreement with Vietnam since 2012. Negotiations have been ongoing for seven years; however, there are still several important issues on which the parties have yet to achieve a breakthrough.

Vietnam's economy has been growing at an above-average rate for several years and offers interesting opportunities for foreign investors. In July 2019, Mr Parmelin travelled to Vietnam with a delegation of science and business experts to gain a clearer picture of the country’s economic situation. At a volume of around CHF 3.5 billion, bilateral trade between Vietnam and Switzerland reached a new record level in November 2019. This makes Vietnam Switzerland's third most important trading partner in South East Asia. According to figures from the Swiss National Bank, Swiss companies have so far invested a total of CHF 682 million in Vietnam and are represented in several sectors.

Furthermore, Switzerland has been one of Vietnam's economic development partners for over 25 years, with 40 projects currently under way. These projects aim to support Vietnam in using its public resources more efficiently, increasing the competitiveness of its private sector, and promoting sustainable urban development.

                                                       


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