The agreement was signed in Hanoi on Sunday, according to statements from the Norwegian and Vietnamese governments, Reuters reported.
The Norwegian government said around half of its exports to Vietnam would become tariff-free when the agreement enters into force. More than 98% of Norwegian exports are expected to qualify for tariff-free access within seven years.
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Negotiations for the agreement, which had been stalled for years, resumed in 2025 amid growing global trade tensions over US tariffs. Talks concluded in July 2026.
Vietnam’s trade ministry said the country’s main exports to EFTA markets include seafood, footwear, textiles, machinery, equipment, electronics and components. Imports from the four European countries include industrial machinery, chemicals, pharmaceuticals and raw materials used in production.
Bilateral trade between Vietnam and EFTA member countries has averaged approximately $2 billion annually, according to Vietnam’s trade ministry.
The agreement is expected to establish a framework for closer trade ties between Vietnam and the four European countries, with tariff reductions set to improve market access for exporters once the pact takes effect.
