EFTA and Vietnam Sign Free Trade Agreement

The EFTA states and Vietnam signed their free trade agreement in Hanoi on October 18, 2026. The European Free Trade Association, or EFTA for short, comprises Switzerland, Liechtenstein, Norway, and Iceland. The step is confirmed. A date for the agreement's entry into force has not yet been announced on the EFTA member states' website. The agreement is intended to facilitate goods trade. On the EFTA side, complete tariff exemption for industrial and fishery products of Vietnamese origin is provided from the date of entry into force. Vietnam will gradually reduce tariffs on most corresponding EFTA products within a maximum of eleven years. For selected agricultural goods, transition periods can extend up to 16 years. For Swiss companies, therefore, attention to individual products is essential. "Free trade" does not mean that every shipment immediately becomes duty-free. The correct tariff number, the reduction stage, and the proven origin must align. Shipment from Switzerland alone does not establish Swiss origin. Customs agents should therefore view the signing as a starting point for preparation. A list of the most important products with tariff number, country of manufacture, and available supplier documentation is advisable. This can then be reviewed with the Vietnamese importer to determine what documentation will be needed in future. For new offers, current import costs and potential later benefits should remain separate. Expected tariff savings should only be included as binding in the calculation once the applicable rule and its start date are established. Otherwise, the difference may end up between seller and buyer. For ongoing shipments, the signature alone does not result in a new tariff rate. Those who prepare master data and documentation properly now can react more quickly after the confirmed entry into force. A blanket conversion of all Vietnam shipments would be premature.