Hanoi, October 18, 2026 (Ghufran): Vietnam has signed a free-trade agreement with Norway, Switzerland, Iceland and Liechtenstein, marking a significant step towards strengthening economic and trade relations between the Southeast Asian country and European markets. The governments of Norway and Vietnam announced on Sunday that the agreement had been signed in Hanoi with members of the European Free Trade Association (EFTA). According to the Norwegian government, around 50 percent of Norway’s exports to Vietnam will become tariff-free once the agreement enters into force, while more than 98 percent will enjoy duty-free access within seven years. Negotiations on the long-delayed trade agreement resumed last year amid growing global tensions over US tariffs and were concluded in July. Vietnam’s trade ministry said the country mainly exports seafood, footwear, textiles, machinery, equipment, electronics and components to EFTA markets, while importing industrial machinery, equipment, chemicals, pharmaceuticals and raw materials for production. The ministry added that bilateral trade between Vietnam and EFTA member countries has averaged approximately $2 billion annually. The agreement is expected to improve market access, facilitate trade and strengthen economic cooperation between Vietnam and the four European countries.