Vietnam and Switzerland have agreed to accelerate the negotiation and signing of a free trade agreement (FTA) between Vietnam and the European Free Trade Association (EFTA), which consists of Switzerland, Norway, Iceland, and Liechtenstein, during talks between National Assembly (NA) Chairman Vuong Dinh Hue and President of the National Council of Switzerland Martin Candinas in Hanoi June 28.

Mr. Candinas said Switzerland has paid attention to promoting investment, trade, and technology and hoped that the FTA could be signed next year.

Switzerland considers Vietnam a strategic economic cooperation partner in the region, and hopes to increase investment, trade cooperation, and effective economic cooperation, helping to realize Vietnam’s goal of becoming a developed and high-income country by 2045, he said.

There are currently some 100 Swiss enterprises in Vietnam, employing about 120,000 workers.

Two-way trade turnover between the two countries reached $810 million last year and Swiss investment in Vietnam totals nearly $2 billion.

NA Chairman Hue said there are still many opportunities for cooperation between the two countries in the fields of science and technology, education, and climate change adaptation.

The NA and the Vietnamese Government will create favorable conditions for foreign investors, including those from Switzerland, to conduct long-term business and production in Vietnam, Mr. Hue said.