EFTA, Vietnam Make Progress In FTA Talks
23/01/2015 21
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Negotiators from the European Free Trade Association (EFTA) and Vietnam met in Ho Chi Minh City from January 13 to 16, 2015, for an 11th round of negotiations towards removing taxes on cross-border trade under the framework of a free trade agreement.
Talks were held in all areas expected to be covered by the agreement and progress was said to have been made on a number of topics. The two sides agreed to meet again in April.
Vietnam is an important trading partner for the EFTA states- Switzerland, Norway, Iceland, and Liechtenstein. Bilateral merchandise trade was valued at USD1.76bn in 2013.
EFTA exports include machinery and mechanical appliances, pharmaceutical products, and fish and other marine products. EFTA's main imports from Vietnam are currently precious stones and metals, clothing and footwear, and also fish and other marine products.
In parallel with the EFTA negotiations, Vietnam is involved with negotiations towards an FTA with the European Union and is taking part in the plurilateral Trans-Pacific Partnership (TPP) talks.
Source: Tax News
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