Vietnamese Minister and Norwegian Ambassador Have Free Trade Agreement Talk

Yesterday in Hanoi, Vietnamese Minister of Industry and Trade, Vu Huy Hoang and Norwegian Ambassador to Vietnam, Stale Torstein Risa officially launched negotiations on a free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA) countries.

At the launching ceremony, Minister Hoang signed a memorandum of understanding on EFTA’s recognition of Vietnam as a market economy.

According to Minister Hoang, the fact that Vietnam is recognized by EFTA and 30 other countries in the world as a market economy shows the international community’s acknowledgment of the country’s efforts to renovate its economy and integrate into the international economy.

The MoU between Vietnam and the EFTA will create a foundation for promoting bilateral tradeand economic ties. It will be a comprehensive FTA in line with World Trade Organization regulations for trade, services, investment and other fields of mutual interest, Hoang added.

The EFTA comprises of Norway, Switzerland, Iceland and Liechtenstein.


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