2nd Round of Negotiations - 16-19 October 2012 in Geneva

30/10/2012    64

The second round of negotiations between the EFTA States and Vietnam, held on 16-19 October 2012 in Geneva, saw constructive discussions on the full range of topics covered by the draft free trade agreement.

On the basis of a joint feasibility study concluded in 2011 and a Memorandum of Understanding signed by Ministers in the summer 2012, negotiating teams from EFTA and Vietnam continued their work towards a free trade agreement. Further understanding was gained on the approaches proposed by the two sides, and a detailed programme of follow-up work was agreed in preparation of the next round, foreseen in early 2013.

A free trade agreement between EFTA and Vietnam is expected to provide a strong framework for further development of bilateral trade and investment between the two sides. Total EFTA-Vietnam merchandise trade (imports and exports) amounted to USD 2.1 billion in 2011.

Source: WTO Center and Integration