Establishing a fair competitive environment
Vietnam and European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland and Liechtenstein, are moving towards signing a Free Trade Agreement (FTA). This FTA will mark a significant step forward, elevating cooperation between Vietnam and EFTA member countries to a new level.
Once signed, the agreement will contribute to diversifying export markets, facilitating easier access for Vietnamese goods to high-demand markets with top quality standards, such as Iceland, Liechtenstein, Norway and Switzerland.
One of sectors that will benefit most significantly after the agreement is signed is seafood. According to Vietnam-EFTA FTA, EFTA countries commit to completely eliminating import tariffs on seafood products originating from Vietnam as soon as the agreement comes into effect. On Vietnamese side, most import tariffs on this product from EFTA will also be reduced and eliminated within a maximum of 11 years.
Data from Vietnam Association of Seafood Processing and Export (VASEP) also shows that in 2025, seafood exports to Switzerland will reach US$34.31 million. Vietnam is the fourth largest supplier of seafood by volume (accounting for 9.46%) and the fifth largest by value (accounting for 8.11%) of Switzerland's total imports, according to data from the World Trade Center as of November 2025.
Vietnam's main export items to Switzerland include: various types of shrimp, pangasius and basa fish. Switzerland's domestic seafood industry only meets 12% of domestic demand, opening up great potential for Vietnamese businesses.
As for Norway, it ranks second in seafood exports, one position above Vietnam. In 2025, Vietnam's total export turnover to this market is projected to reach US$18.48 million. The trend is becoming more positive, with export to Norway reaching US$7.027 million in the first five months of 2026, an increase of 36.7%.
Vietnamese seafood has a relatively modest presence in Icelandic market, with export turnover reaching only US$0.43 million in the first six months of 2026. Trade with Liechtenstein market is even smaller. In 2025, Vietnam only exported US$0.226 million worth of all products. Nevertheless, from an optimistic perspective, Vietnamese seafood still has enormous potential to exploit in these two EFTA markets.
On afternoon of October 17th, ahead of signing ceremony of FTA between Vietnam and EFTA, Ms. Astrid Bergmål, State Secretary of Norwegian Ministry of Foreign Affairs, shared with the press about opportunities for exporting Norwegian seafood to Vietnam, especially Norwegian salmon products. She stated that in 2026, Vietnam and Norway will celebrate the 55th anniversary of establishment of diplomatic relations (November 25, 1971 - November 25, 2026). This year marks a significant milestone in bilateral relations with the signing of Vietnam-EFTA Free Trade Agreement (FTA).
The State Secretary assessed that Vietnam-EFTA FTA will create more favorable conditions for goods and services from both sides to access each other's markets, while increasing stability and predictability for business operations. The State Secretary of Norwegian Ministry of Foreign Affairs believes this provides a basis for businesses from both sides to expand long-term cooperation, contributing to strengthening economic relations between Vietnam and Norway and other EFTA member countries.
Regarding Norwegian salmon specifically, State Secretary Astrid Bergmål stated that upon the agreement's entry into force, Norwegian salmon will be exempt from import duties immediately upon entering Vietnam, while duties on Norwegian mackerel will be gradually phased out during a three-year transition period.
Currently, Norwegian salmon is subject to a 10% import tax on whole salmon and a 15% tax on salmon fillets, while some other competing suppliers enjoy preferential tariffs. Therefore, the agreement is expected to create a fairer competitive environment for Norwegian salmon in Vietnam.
Similarly, Ms. Åshild Nakken, Regional Director for Southeast Asia of Norwegian Seafood Council, also shared that Free Trade Agreement between Vietnam and EFTA will open up many opportunities for Norwegian seafood, especially salmon, in Vietnamese market. Vietnam is also an important seafood processing center, so the agreement will not only help Norwegian salmon access the market more easily but also create practical value for business and processing activities in Vietnam.
According to Ms. Åshild Nakken, final selling price in Vietnamese market still depends on many factors such as exchange rates, transportation costs and distribution costs. However, FTA will contribute to creating a more level playing field, enhancing competitiveness of Norwegian products compared to competitors enjoying preferential tariffs. “We expect that benefits in this signed FTA will help lower the price of Norwegian salmon, making it more accessible to Vietnamese consumers”, Ms. Åshild Nakken anticipated.
In addition, according to Ms. Åshild Nakken, the agreement is expected to facilitate and simplify trade, enabling businesses to proactively plan and maintain a stable supply. This will give Vietnamese consumers more choices of quality and reliable food.
“I am very pleased that Norwegian salmon is becoming increasingly popular in Vietnam, not only for its taste but also for its nutritional value. In context of consumers increasingly concerned about their own and their family's health, salmon, with its high content of omega-3s, vitamin D, and other essential nutrients, has many advantages to meet this demand,” said the Southeast Asia Regional Director of Norwegian Seafood Council.
Opportunities for two-way cooperation
However, according to VASEP, Vietnam-EFTA FTA should not be seen as an immediate “production boost,” but rather as an opportunity to open up a new group of markets with high purchasing power, high standards and aligned with Vietnam's orientation to increase value of its export products.
“This is not a market that can be expanded through mere price competition. More suitable opportunities lie in high-value-added and high-standard products such as processed shrimp, high-quality frozen shrimp, pangasius fillet/portion, processed pangasius, tuna, squid and octopus, crab, shellfish and convenient products for retail,” VASEP stated.
Notably, according to VASEP, Vietnam-EFTA Free Trade Agreement (FTA) presents a two-way cooperation opportunity. Although Norway and Vietnam are among the top three seafood exporting countries in the world, their key industries do not directly compete with each other. Norway exports species such as salmon, cod, king crab and shrimp from the sea. Vietnam is a major supplier of farmed pangasius and shrimp. Therefore, the FTA not only opens export opportunities but can also promote cooperation in technology, raw materials, investment, supply chain management and new product development.
“For Vietnamese businesses with processing capabilities, high-quality seafood raw materials from EFTA can also support development of products serving the domestic market, distribution to accommodation service businesses, restaurants, hotels, modern retail or re-export”, VASEP noted.

Source: Vitic/ congthuong.vn