Hanoi, October 19, 2026 – The Europe Today: Vietnamese Prime Minister Lê Minh Hưng and Liechtenstein Prime Minister Brigitte Haas have agreed to expedite the ratification of the Việtnam-European Free Trade Association (EFTA) free trade agreement and promote its effective implementation once it enters into force.
The agreement was reached during talks in Hànội on Sunday, held as Haas visits Việtnam from October 17 to 19 on an official visit.
Prime Minister Hưng reaffirmed Việtnam’s commitment to strengthening relations with Liechtenstein and acknowledged the European country’s expertise in science and technology, innovation, finance and the development of highly skilled human resources.
He said these areas offer significant potential for complementing Việt Nam’s development priorities and strengthening economic connectivity between Việtnam, the Association of Southeast Asian Nations (ASEAN) and EFTA member states.
Hưng welcomed the signing of the Việtnam-EFTA free trade agreement following 14 years of negotiations and 21 formal rounds of talks. He also highlighted the significance of the agreement on the avoidance of double taxation between Việtnam and Liechtenstein.
According to the Vietnamese prime minister, the agreements will establish a more favourable framework for businesses by reducing tariffs and trade barriers, expanding market access, strengthening commercial links and encouraging investment flows, thereby contributing to economic growth and shared prosperity.
He noted that Việtnam is pursuing its strategic development objectives for 2030 and 2045, with a growth model increasingly driven by science and technology, innovation and digital transformation.
In this regard, Hưng called on Liechtenstein to share its experience in investment fund development and management, banking, green finance, capital markets and international asset management.
He also urged both countries to facilitate market access for each other’s products, particularly Việtnam’s major exports, including seafood, textiles and garments.
The Vietnamese leader encouraged Liechtenstein companies to expand investment in Việtnam in high-technology industries, precision engineering, automation, medical equipment and financial services. He also invited them to explore opportunities in Việt Nam’s planned international financial centre and capital markets.
Prime Minister Haas thanked Việt Nam for its warm hospitality, describing her visit as an honour as she became the first member of the Liechtenstein government to visit the Southeast Asian country.
She expressed her desire to broaden bilateral cooperation across various sectors and make effective use of opportunities arising from the newly established cooperation frameworks. She described the Việt Nam-EFTA free trade agreement and the double taxation avoidance agreement as important milestones in relations between the two countries.
Both prime ministers agreed to increase exchanges of delegations at all levels, strengthen bilateral cooperation mechanisms and expand collaboration in areas of mutual strength and complementarity, including finance, science and technology, innovation, digital transformation and high-tech manufacturing.
They also agreed to promote closer links among government agencies, research institutions, universities and businesses, while encouraging joint research, technology transfer and the development of highly skilled human resources.
Particular emphasis was placed on expanding cooperation in investment fund management, asset management, banking, capital markets and securities, drawing on Liechtenstein’s expertise in these fields.
On regional and international affairs, the two leaders agreed to maintain coordination and mutual support at the United Nations and other multilateral forums.
They reaffirmed their commitment to multilateralism, respect for international law and a rules-based multilateral trading system, while pledging to contribute to addressing shared challenges and promoting peace, stability, cooperation and sustainable development at the regional and global levels.
