BUY VIETNAM THIS MONTH
Havigo, cashew nuts
Lotus, garment
Hoang Gia, shipbuilding
Alewijnse, shipbuilding
Gotech, agricultural products
Via, agricultural products
Vifresh, agricultural products
Fortis, agricultural products
Havigo, fresh fruits
Vietship, shipbuilding
Tan Do, beverage
Meloherb, herbs
Hasabio, organic foods
Minh Ha, food
Vina Aroma, food
Havigo, sprices
HEADLINES
On the occasion of the ASEAN Trade and Food Fair 2026, held in Stockholm on 14 June 2026, the Embassy of Viet Nam in Sweden, in coordination with Vietnamese associations in Sweden, participated in the event with three main showcase areas: culture, cuisine and trade. Among these, the trade booth, managed by the Vietnam Trade Office in Sweden, focused on promoting agricultural products, processed foods and typical Vietnamese export goods.
Supported by the EU–Vietnam Free Trade Agreement, Vietnam’s exports to Sweden, Denmark, Norway and Latvia recorded strong year-on-year growth in the first half of 2026.
Trade with Most Markets Records Strong Growth
Speaking to a reporter from Industry and Trade Newspaper, Ms. Nguyễn Thị Hoàng Thúy, Director General and Head of the Trade Office of Vietnam in Sweden, concurrently responsible for Denmark, Norway, Iceland and Latvia, said that trade and investment relations between Vietnam and the Nordic markets continued to deliver positive results during the first six months of 2026.
According to statistics from the Vietnam Customs Department, total trade turnover between Vietnam and Sweden reached USD 982.66 million. Vietnam’s exports to Sweden amounted to USD 748.78 million, an increase of 19.6%, while imports from Sweden reached USD 233.88 million, down 10% compared with the same period in 2025.
Vietnam–Denmark trade reached USD 468.31 million. Vietnam’s exports to Denmark totalled USD 265.29 million, up 29.9%, while imports from the Danish market amounted to USD 203.02 million, an increase of 59.2%.
For Norway, two-way trade reached USD 400.57 million. Vietnam exported goods worth USD 114.68 million to Norway, an increase of 47.2%, while imports from Norway reached USD 285.89 million, down 9.2% year on year.
Trade between Vietnam and Latvia totalled USD 211.34 million. Vietnam’s exports reached USD 190.26 million, up 36.9%, while imports from Latvia amounted to USD 21.08 million, an increase of 84%. Latvia recorded the highest import growth rate among the markets mentioned above.
Overall, Vietnam’s exports to all four markets maintained positive growth. Notably, exports to Norway rose by 47.2%, Latvia by 36.9% and Denmark by 29.9%.
In the opposite direction, imports from Denmark and Latvia increased sharply, while imports from Sweden and Norway declined compared with the same period in 2025.
Ms. Nguyễn Thị Hoàng Thúy emphasized that the EVFTA entered into force on 1 August 2020. Under the agreed implementation schedule, Vietnam and the European Union will eliminate tariffs on approximately 99% of tariff lines, while reducing regulatory barriers, expanding access to services and public procurement markets, protecting geographical indications and improving the stability of the bilateral trade framework.
For Vietnamese goods entering Nordic markets, the most direct benefit is access to preferential import tariffs when rules of origin are satisfied. This is particularly important for textiles and garments, footwear, furniture, seafood, coffee, electronics, machinery and processed industrial products.
In addition to tariff benefits, the EVFTA has also strengthened confidence in the Vietnamese market, providing a foundation for importers to build long-term relationships, diversify their supply sources and integrate Vietnamese enterprises more deeply into supply chains.
In practice, Vietnamese companies have made significant efforts to meet the requirements of the Nordic region, one of the world’s most demanding markets.
Textiles and garments, for example, are among Vietnam’s key exports to the Nordic market. To successfully export to this region, businesses have worked to shift towards greener production.
At a press meeting on business and production performance during the first six months of 2026, Mr. Cao Hữu Hiếu, General Director of the Vietnam National Textile and Garment Group, said that alongside its production and business activities, the Group continued implementing measures to improve corporate governance, strengthen risk control, promote investment in the textile and dyeing value chain and accelerate green transformation.
It is also gradually building a green, smart and circular production ecosystem, regarded as a new growth driver for Vinatex during the 2026–2030 period.
Vinatex has introduced programmes to measure carbon footprints, develop circular production and establish recycled production models covering the entire fibre–textile–garment chain. It has also invested in rooftop solar power, digital management platforms and production automation.
A number of member companies, including Hòa Thọ, Huế Textile and Garment and Phong Phú, are gradually preparing to develop smart factory models that meet the environmental, social and governance standards, traceability requirements and sustainability expectations of global brands.
These efforts have enabled businesses to maintain orders in markets with demanding standards, including the Nordic region.
Positive Developments in Two-Way Investment
Regarding investment, the Trade Office of Vietnam in Sweden, concurrently responsible for the Nordic region, reported that during the first six months of 2026, Sweden, Denmark, Norway, Iceland and Latvia had a combined total of 359 foreign direct investment projects in Vietnam, with total registered capital of approximately USD 4.44 billion.
Denmark ranked 21st among 153 countries and territories investing in Vietnam, with 179 projects and total registered capital of USD 2.46 billion.
Sweden ranked 23rd, with 111 projects and registered capital of USD 1.76 billion.
Norway ranked 40th, with 62 projects and registered capital of USD 201.57 million.
Iceland had three projects with total registered capital of USD 20.32 million, ranking 77th, while Latvia had four projects with registered capital of USD 0.27 million, ranking 128th among countries and territories investing in Vietnam.
Despite these positive results, a series of new EU regulations will begin to apply from 2026, including the Carbon Border Adjustment Mechanism, the EU Deforestation Regulation, the Packaging and Packaging Waste Regulation, the General Product Safety Regulation and requirements relating to the Digital Product Passport.
Experts believe that the EVFTA is entering a new phase of competition as the EU continues expanding trade relations with partners including Indonesia, India and the Mercosur bloc. As a result, tariff advantages will no longer be the decisive factor.
In the coming period, the ability of Vietnamese goods to maintain and expand their market share in the EU generally and the Nordic region specifically will depend on supply-chain management capabilities, data transparency, compliance with sustainability standards and strict control of product origin.
When enterprises shift from a mindset focused on utilizing tariff preferences to building competitiveness based on quality, transparency and green development, the EVFTA will continue to serve as an important driver helping Vietnamese goods strengthen their position in one of the world’s most demanding yet promising markets.
The results recorded during the first half of 2026 show that trade and investment relations between Vietnam and the Nordic markets and Latvia continue to expand, creating a favourable foundation for businesses from both sides to strengthen connections, explore opportunities for cooperation and develop their markets in the coming period.
OTHER NEWS
Sweden imported from Vietnam
| Products | 5M/2025 | 5M/2026 | Change (%) |
|---|---|---|---|
| All products (USD) | 510,358,227 | 618,652,871 | 21.22 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 13,933,177 | 13,363,939 | -4.09 |
| Plastic products | 7,979,854 | 8,611,344 | 7.91 |
| Rubber | 343,123 | 203,112 | -40.80 |
| Bags, purses, suitcases, hats, umbrellas | 12,318,278 | 10,108,325 | -17.94 |
| Products of rattan, bamboo, sedge and carpet | 3,513,805 | 4,027,403 | 14.62 |
| Wood and articles of wood | 12,756,388 | 16,189,512 | 26.91 |
| Textiles and garments | 55,559,146 | 65,130,063 | 17.23 |
| Footwears, parts of such articles | 34,516,428 | 41,208,770 | 19.39 |
| Materials for textiles and garments, and footwares | 2,089,838 | 2,311,811 | 10.62 |
| Ceramic products | 578,881 | 683,114 | 18.01 |
| Articles of iron or steel | 32,611,707 | 21,659,948 | -33.58 |
| Other metals and products | 1,174,175 | 962,069 | -18.06 |
| Computers, electrical products, part thereof | 63,651,423 | 100,999,771 | 58.68 |
| Telephone sets, parts thereof | 152,616,431 | 181,016,495 | 18.61 |
| Machinery, mechanical appliances, equipment, parts thereof | 46,698,005 | 52,179,124 | 11.74 |
| Toys, sports equipment and parts | 4,979,089 | 8,625,965 | 73.24 |
Sweden exported to Vietnam
| Products | 5M/2025 | 5M/2026 | Change (%) |
|---|---|---|---|
| All products (USD) | 214,091,826 | 187,430,298 | -12.45 |
| Other petroleum products | 1,606,076 | 2,683,075 | 67.06 |
| Chemical products | 5,550,813 | 5,382,051 | -3.04 |
| Pharmaceutical products | 74,701,566 | 56,635,450 | -24.18 |
| Plastic materials | 1,175,183 | 1,861,698 | 58.42 |
| Plastic products | 2,798,111 | 4,452,836 | 59.14 |
| Wood and articles of wood | 2,627,055 | 1,200,517 | -54.30 |
| Paper products | 24,630,269 | 32,088,185 | 30.28 |
| Iron or steel | 7,570,056 | 9,483,118 | 25.27 |
| Articles of iron or steel | 5,103,437 | 6,070,887 | 18.96 |
| Computers, electrical products, part thereof | 2,368,179 | 528,560 | -77.68 |
| Telephone sets, parts thereof | 0 | 0 | - |
| Other machinery, equipment, tools and spare parts | 53,876,032 | 37,849,319 | -29.75 |
| Other commodity | 32,085,048 | 29,194,603 | -9.01 |
Denmark imported from Vietnam
| Products | 5M/2025 | 5M/2026 | Change (%) |
|---|---|---|---|
| All products (USD) | 170,406,350 | 217,460,810 | 27.61 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 17,262,994 | 18,102,074 | 4.86 |
| Coffee | 5,711,376 | 4,626,325 | -19.00 |
| Plastic products | 10,477,660 | 11,306,510 | 7.91 |
| Bags, purses, suitcases, hats, umbrellas | 4,262,717 | 9,145,437 | 114.54 |
| Products of rattan, bamboo, sedge and carpet | 2,729,887 | 2,739,100 | 0.34 |
| Wood and articles of wood | 13,567,326 | 14,474,817 | 6.69 |
| Textiles and garments | 26,315,344 | 24,473,329 | -7.00 |
| Footwears, parts of such articles | 12,064,880 | 13,366,751 | 10.79 |
| Ceramic products | 2,958,105 | 2,005,305 | -32.21 |
| Articles of iron or steel | 10,632,049 | 34,757,688 | 226.91 |
| Other machinery, equipment, tools and spare parts | 13,379,380 | 15,758,731 | 17.78 |
| Electric wires and cables | 10,839,912 | 16,928,485 | 56.17 |
| Transport vehicles and spare parts | 3,093,441 | 4,765,499 | 54.05 |
| Furniture products from materials other than wood | 9,295,856 | 12,927,509 | 39.07 |
| Toys, sports equipment and parts | 2,120,011 | 2,314,249 | 9.16 |
Denmark exported to Vietnam
| Products | 5M/2025 | 5M/2026 | Change (%) |
|---|---|---|---|
| All products (USD) | 103,196,505 | 171,361,624 | 66.05 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 11,097,178 | 8,780,534 | -20.88 |
| Milk and dairy products | 2,662,844 | 3,038,381 | 14.10 |
| Other food preparations | 4,999,362 | 6,809,439 | 36.20 |
| Chemical products | 9,954,223 | 9,154,956 | -8.03 |
| Pharmaceutical products | 9,533,625 | 9,689,620 | 1.64 |
| Plastic products | 5,896,506 | 7,517,167 | 27.49 |
| Materials for textiles and garments, and footwares | 417,649 | 508,644 | 21.79 |
| Iron or steel | 45,503 | 771,890 | 1,596.35 |
| Articles of iron or steel | 6,839,483 | 2,988,685 | -56.30 |
| Computers, electrical products, part thereof | 2,274,075 | 2,209,963 | -2.82 |
| Other machinery, equipment. tools and spare parts | 21,463,555 | 80,131,191 | 273.34 |
| Electric wires and cables | 889,811 | 831,005 | -6.61 |
| Other commodity | 27,122,691 | 38,930,149 | 43.53 |
Norway imported from Vietnam
| Products | 5M/2025 | 5M/2026 | Change (%) |
|---|---|---|---|
| All products (USD) | 63,574,337 | 79,509,489 | 25.07 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 5,140,312 | 7,027,219 | 36.71 |
| Fruits and vegetables | 1,428,724 | 2,166,513 | 51.64 |
| Cashew nuts | 3,877,974 | 5,172,883 | 33.39 |
| Plastic products | 1,218,584 | 729,260 | -40.16 |
| Bags, purses, suitcases, hats, umbrellas | 4,036,792 | 3,787,642 | -6.17 |
| Wood and articles of wood | 1,280,227 | 997,756 | -22.06 |
| Textiles and garments | 4,903,137 | 6,536,599 | 33.31 |
| Footwears, parts of such articles | 8,275,593 | 10,496,498 | 26.84 |
| Articles of iron or steel | 714,410 | 476,903 | -33.25 |
| Cameras, camcorders and components | 4,210,654 | 3,022,635 | -28.21 |
| Other machinery, equipment, tools and spare parts | 5,184,583 | 13,311,383 | 156.75 |
| Transport vehicles and spare parts | 6,016,964 | 9,108,458 | 51.38 |
| Furniture products from materials other than wood | 1,002,374 | 1,059,894 | 5.74 |
Norway exported to Vietnam
| Products | 5M/2025 | 5M/2026 | Change (%) |
|---|---|---|---|
| All products (USD) | 249,041,929 | 242,678,561 | -2.56 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 142,813,618 | 150,933,211 | 5.69 |
| Chemical products | 2,110,401 | 1,614,130 | -23.52 |
| Fertilizers | 18,952,740 | 14,695,621 | -22.46 |
| Articles of iron or steel | 3,116,144 | 4,369,604 | 40.22 |
| Other machinery, equipment. tools and spare parts | 56,585,442 | 39,422,811 | -30.33 |
| Other commodity | 25,463,584 | 31,643,184 | 24.27 |
OTHER NEWS
H&M Returns to Vietnam International Sourcing 2026: Vietnam Is a Long-Term Partner in the Global Supply Chain
Participating in Vietnam International Sourcing for the second consecutive year, H&M Group continues to join the Nordic business delegation organized by the Trade Office of Vietnam in Sweden.
As part of the 2026 trade promotion programme, the Trade Office of Vietnam in Sweden, concurrently responsible for Norway, Denmark, Iceland and Latvia, will once again organize a Nordic business delegation to attend Vietnam International Sourcing 2026 – VIS 2026.
Notably, H&M will participate in VIS for the second consecutive year and will have a booth at the fair. H&M’s presence will not only create opportunities for direct engagement between the Group and Vietnamese textile and garment enterprises, but also help promote dialogue on green production, renewable energy, circular transformation, workforce development and strengthening the competitiveness of the supply chain.
According to the plan of the Ministry of Industry and Trade, VIS 2026 is scheduled to take place from 3 to 5 September 2026 at the Saigon Exhibition and Convention Center – SECC in Ho Chi Minh City. It is one of Vietnam’s key trade promotion events in 2026, featuring an export forum, thematic seminars, an exhibition and B2B business-matching activities between Vietnamese enterprises and international purchasing delegations.
On this occasion, H&M shared its views on Vietnam’s role in the Group’s global sourcing strategy, the capabilities it seeks from Vietnamese suppliers, and the opportunities for green transformation and sustainable development in the textile and garment industry.
Vietnam Is an Important Partner in H&M’s Global Sourcing Network
For H&M Group, Vietnam is not only an important sourcing destination but also a long-term partner in building a future-ready and sustainable textile industry.
1. This is H&M’s second time participating in Vietnam International Sourcing. What experiences or outcomes from the previous season encouraged H&M to return and further expand your presence in Vietnam?
Our participation in previous editions reinforced our positive view of Vietnam as an important partner in our global sourcing network.
In line with our long-term ambitions, we continuously invest in strong partnerships across our sourcing markets. Returning for a second year reflects our confidence in Vietnam’s future development and our commitment to contributing to a resilient, flexible, and agile supply chain that can adapt to evolving market conditions and customer expectations.
We also see Vietnam International Sourcing as an important platform to deepen dialogue and collaboration with both industry and government partners as we work together to strengthen Vietnam’s role in global value chains. When we look at Vietnam, we also see great potential in further connecting with a growing demand for our fantastic products with the Vietnamese consumers, and we have the ambition to further develop our retail operations in iconic locations.
One of H&M’s Most Important Sourcing Markets
2. How does H&M’s return to Vietnam International Sourcing 2026 reflect Vietnam’s role in the Group’s global sourcing and supply chain strategy?
Vietnam is one of H&M Group’s most important sourcing markets globally. We have been sourcing from Vietnam since the early 2000s and today work with 42 suppliers and 72 factories employing more than 60,000 workers. Vietnam offers a mature manufacturing ecosystem with strong capabilities that support our product strategy.
As we continue investing in a resilient, flexible, and agile supply chain, Vietnam is well positioned to play an increasingly important role in supporting the industry’s long-term competitiveness. We see significant opportunities in areas such as renewable energy, industrial decarbonization, circular solutions, digitalization, and workforce development.
These areas are becoming increasingly important as the global apparel industry evolves, and they align closely with our ambition to offer customers the best combination of fashion, quality, price, and sustainability while supporting a more sustainable future for the industry.
Seeking Partners with Strong Operational Capabilities and a Commitment to Continuous Improvement
3. What capabilities or types of suppliers is H&M currently seeking from Vietnamese textile and garment enterprises amid the ongoing global supply chain transformation?
Vietnam is one of the world’s leading textile and garment exporters and offers mature ecosystem that fits our product strategy.
We recognize the vital role of Vietnam’s textile and garment sector as a strategic export industry. With over 3 million workers, it is not only a key engine of economic growth but also central to livelihoods across the country.
Beyond the strong manufacturing capabilities, Vietnam has demonstrated ambition, resilience and a clear vision for economic development and international competitiveness. We greatly value the collaboration we have built with our partners across the textile and garment value chain.
As global markets evolve, our industry is undergoing significant transformations. Expectations related to sustainability, climate transition and circularity are increasing rapidly. At the same time, maintaining competitiveness and economic growth remain essential priorities.
We believe Vietnam is uniquely positioned to lead this transformation. We are increasingly looking for partners that combine strong operational performance with a commitment to continuous improvement and long-term competitiveness.
Sustainability and Competitiveness Are Becoming Increasingly Interconnected
4. Sustainability and ESG standards are becoming increasingly important in H&M’s supply chain. How does H&M assess the current readiness of Vietnamese enterprises in meeting these requirements, and does H&M have any plans to support suppliers in narrowing the gap?
Vietnamese suppliers have made significant progress over many years in improving environmental performance, energy efficiency, compliance, and operational excellence. This progress has contributed to Vietnam’s position as one of the world’s leading textile and garment exporting countries.
At the same time, expectations related to sustainability, climate transition, and circularity are increasing rapidly across global markets. We believe sustainability and competitiveness increasingly go hand in hand.
Our approach is to work collaboratively with suppliers and partners to support this transition. This includes initiatives related to renewable energy adoption, energy efficiency, electrification technologies and capacity building. Our focus is on collaboration and continuous improvement, helping create the conditions for suppliers to remain competitive in a rapidly changing business environment.
VIS Serves as a Bridge Between Vietnamese Enterprises and International Buyers
5. How does H&M assess the role of Vietnam International Sourcing in helping Vietnamese enterprises directly connect with international buyers and integrate more deeply into global value chains?
Vietnam International Sourcing serves as an important bridge between Vietnamese enterprises and international buyers. It creates opportunities for direct engagement, relationship building, and a better understanding of evolving market expectations.
Beyond facilitating sourcing discussions, the event also creates a valuable platform for dialogue on broader industry topics such as customer-centric retail development, innovation, sustainability and industrial development. These conversations are increasingly important as the industry works to strengthen competitiveness while responding to global challenges and opportunities.
Opportunities Lie in Higher-Value-Added Production, Innovation and Green Transformation
6. What message would H&M like to share with the Vietnamese textile and garment business community participating in Vietnam International Sourcing this year?
Vietnam has established itself as one of the world’s leading textile and garment manufacturing countries and has demonstrated remarkable ambition, resilience, and adaptability over many years.
Looking ahead, we believe the biggest opportunities will come from moving toward higher-value production, a full-value chain approach that allows to benefit from international trade agreements, accelerating sustainability and circularity, investing in innovation and workforce capabilities, and embracing renewable and energy-efficient manufacturing.
H&M Group remains committed to working together with suppliers, industry organizations, and government stakeholders to support a resilient, competitive, and more sustainable textile industry for the future.
VIS 2026 – A Direct Meeting Point for Global Sourcing Groups
Vietnam International Sourcing 2026 offers Vietnamese manufacturers and exporters an opportunity to present their capabilities, products and solutions directly to global distribution groups, retail systems, importers and international buying delegations.
In addition to the exhibition, VIS 2026 will feature B2B business-matching activities, export forums and thematic seminars on green manufacturing, sustainable exports, e-commerce, digital technologies and market diversification. Through these activities, businesses can gain insights into consumer trends, technical standards, ESG requirements and the sourcing strategies of global distribution systems.
The participation of H&M, together with the Nordic business delegation organized by the Trade Office of Vietnam in Sweden, further reinforces VIS’s role as a practical platform connecting Vietnam’s manufacturing capabilities with international market demand.
Vietnamese textile and garment companies interested in becoming suppliers to international groups should proactively prepare English-language company profiles, information on products and production capacity, quality and sustainability certifications, data on energy use and emissions, as well as specific cooperation proposals to improve the effectiveness of their meetings at VIS 2026.
Vietnam and the Member States of the European Free Trade Association Officially Conclude Free Trade Agreement Negotiations
Vietnam and the member states of the European Free Trade Association have officially concluded negotiations on the Vietnam–EFTA Free Trade Agreement, opening a new phase of cooperation, laying a solid foundation for stronger trade and investment, and expanding collaboration in areas of mutual interest.
The European Free Trade Association comprises four countries: Switzerland, Norway, Iceland and Liechtenstein. The two sides conducted 21 formal negotiating rounds. The most recent round took place in Iceland from 17 to 22 June.
On 22 June, Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân led the Vietnamese negotiating delegation to the EFTA Ministerial Meeting in Liechtenstein to discuss the final outstanding issues and conclude the negotiations.
According to the Multilateral Trade Policy Department under the Ministry of Industry and Trade, the two sides issued a joint statement on 2 July announcing the conclusion of negotiations on the Vietnam–EFTA Free Trade Agreement.
The agreement is expected to open a new phase of cooperation, create a solid foundation for promoting trade and investment, and expand collaboration across a broad range of areas between Vietnam and the EFTA countries.
The announcement followed the EFTA Ministerial Meeting held in Reykjavík, Iceland, on 22 June, marking the official completion of the negotiating process. Prior to the meeting, the EFTA and Vietnamese negotiating teams had conducted several days of technical negotiations in Reykjavík in preparation for the ministerial discussions.
The ministerial meeting in Iceland was attended by Þorgerður Katrín Gunnarsdóttir, Minister for Foreign Affairs of Iceland; Espen Barth Eide, Minister of Foreign Affairs of Norway; Sabine Monauni, Deputy Prime Minister and Minister of Foreign Affairs of Liechtenstein; Guy Parmelin, President of the Swiss Confederation and Head of the Federal Department of Economic Affairs, Education and Research; and Nguyễn Sinh Nhật Tân, Deputy Minister of Industry and Trade of Vietnam.
Vietnam and EFTA Successfully Conclude Free Trade Agreement Negotiations
Negotiations on the Vietnam–EFTA Free Trade Agreement resumed on 8 September 2025 in Geneva and proceeded through five negotiating rounds.
The agreement is comprehensive and modern, covering a wide range of areas, including trade in goods, trade in services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, investment, intellectual property rights, trade remedies, government procurement, trade and sustainable development, small and medium-sized enterprises, cooperation and capacity building.
The agreement aims to strengthen trade relations between Vietnam and the EFTA countries by eliminating or reducing tariffs, facilitating trade and promoting sustainable development.
Speaking at the EFTA Ministerial Meeting, Espen Barth Eide emphasized:
“Against a backdrop of global uncertainty, strengthening relations with reliable trading partners has become even more important. I am pleased that we have reached an ambitious and forward-looking free trade agreement that will significantly improve market access for goods and services, while strengthening cooperation in areas such as sustainable development and intellectual property rights. I am confident that this agreement will create many new trade opportunities for businesses in the EFTA countries and Vietnam.”
Deputy Minister Nguyễn Sinh Nhật Tân highlighted the agreement’s particular significance:
“The agreement is especially meaningful because it connects economies with complementary strengths. On one side are the EFTA countries, which possess world-leading capabilities in innovation, technology, finance, clean energy and sustainable development. On the other is Vietnam, one of Asia’s most dynamic economies and an emerging regional centre for manufacturing, trade and investment.
More importantly, the agreement provides a foundation for economic relations between Vietnam and the EFTA countries to enter a new stage of development. With comprehensive and high-standard commitments, it will create a stable, transparent and predictable business environment, thereby further promoting flows of trade, investment, technology and knowledge between the two sides.”
Over the past decade, trade between EFTA and Vietnam has grown steadily.
In 2025, bilateral trade reached EUR 4.8 billion, while Vietnam’s trade surplus amounted to EUR 2.5 billion, a substantial increase from EUR 0.5 billion ten years earlier, excluding Swiss gold trade statistics.
EFTA’s main exports to Vietnam include electrical machinery, seafood, pharmaceuticals and mechanical machinery, while Vietnam primarily exports electrical machinery, footwear, garments and mechanical machinery.
All of these product groups recorded average annual growth rates of more than 10% over the past decade.
The conclusion of negotiations opens a new phase of cooperation, creates a strong foundation for promoting trade and investment between the two sides, and expands collaboration in areas of mutual interest.
Vietnam’s Trade and Investment Relations with the Nordic Markets and Latvia Record Positive Growth in the First Half of 2026
During the first six months of 2026, trade and investment relations between Vietnam and the markets covered by the Trade Office of Vietnam in Sweden continued to record positive results. Vietnam’s exports to Sweden, Denmark, Norway and Latvia all achieved strong year-on-year growth.
According to statistics from the Vietnam Customs Department, total trade between Vietnam and Sweden reached USD 982.66 million. Vietnam’s exports to Sweden amounted to USD 748.78 million, an increase of 19.6%, while imports from Sweden reached USD 233.88 million, down 10% compared with the same period in 2025.
Vietnam–Denmark trade reached USD 468.31 million. Vietnam’s exports to Denmark amounted to USD 265.29 million, up 29.9%, while imports from Denmark reached USD 203.02 million, an increase of 59.2%.
For Norway, two-way trade totalled USD 400.57 million. Vietnam exported goods worth USD 114.68 million to Norway, an increase of 47.2%, while imports from Norway amounted to USD 285.89 million, down 9.2% year on year.
Trade between Vietnam and Latvia reached USD 211.34 million. Vietnam’s exports to Latvia amounted to USD 190.26 million, an increase of 36.9%, while imports from Latvia reached USD 21.08 million, up 84%. Latvia recorded the highest import growth rate among the markets mentioned above.
Overall, Vietnam’s exports to all four markets maintained positive growth. Notably, exports to Norway rose by 47.2%, Latvia by 36.9% and Denmark by 29.9%. In the opposite direction, imports from Denmark and Latvia increased sharply, while imports from Sweden and Norway declined compared with the same period in 2025.
Regarding investment, during the first six months of 2026, Sweden, Denmark, Norway, Iceland and Latvia had a combined total of 359 foreign direct investment projects in Vietnam, with total registered capital of approximately USD 4.44 billion.
Denmark ranked 21st among 153 countries and territories investing in Vietnam, with 179 projects and total registered capital of USD 2.46 billion. Sweden ranked 23rd, with 111 projects and total registered capital of USD 1.76 billion.
Norway ranked 40th, with 62 projects and total registered capital of USD 201.57 million.
Iceland ranked 77th, with three projects and total registered capital of USD 20.32 million. Latvia ranked 128th, with four projects and total registered capital of USD 0.27 million.
These results show that trade and investment relations between Vietnam and the Nordic markets and Latvia continue to expand, creating a favourable foundation for businesses on both sides to strengthen connections, explore cooperation opportunities and develop their markets in the coming period.
Trade Office of Vietnam in Sweden, concurrently responsible for Denmark, Norway, Iceland and Latvia