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Chairpersons

Vietnam and Switzerland Strengthen Comprehensive Partnership Across Multiple Fields

Strategic Insights

— 2 min read

The visit of National Assembly Chairman Tran Thanh Man to Switzerland for the 6th World Conference of Speakers of Parliament and bilateral activities is expected to enhance political trust and promote a deeper, more effective cooperation between Vietnam and Switzerland. This milestone reinforces the strong bilateral relationship that has developed over the past five decades, with significant high-level visits and diplomatic engagements. Vietnam and Switzerland have a long history of cooperation, dating back to the 19th century when Swiss merchants, scientists, and explorers first arrived in Vietnam. Switzerland was one of the first Western European nations to establish diplomatic relations with Vietnam in 1971, and since then, the two countries have deepened their ties through economic, trade, and investment relations.

Key Takeaways:

  • National Assembly Chairman Tran Thanh Man's visit to Switzerland aims to strengthen the Vietnam-Switzerland Comprehensive Partnership and enhance cooperation in fields such as finance, banking, digital transformation, innovation, and precision engineering.
  • Vietnam and Switzerland have a long history of cooperation dating back to the 19th century when Swiss merchants, scientists, and explorers first arrived in Vietnam.
  • Switzerland was one of the first Western European nations to establish diplomatic relations with Vietnam in 1971, and since then, the two countries have deepened their ties through economic, trade, and investment relations.
  • Bilateral trade between Vietnam and Switzerland has remained stable over recent years, reaching 860.7 million USD in 2021, 806.7 million USD in 2022, 825.8 million USD in 2023, and 811.2 million USD in 2024.
  • Switzerland is one of Vietnam's most important European trading partners and ranks as its sixth-largest European investor.
  • Vietnam and Switzerland are actively negotiating a Vietnam-EFTA Free Trade Agreement, which would provide further opportunities for cooperation in trade and investment.
  • Swiss companies operating in Vietnam have invested over 2.11 billion USD in registered capital, with the largest companies including Nestle, Novartis, Roche, and ABB.
  • Switzerland has consistently provided official development assistance (ODA) to Vietnam since 1992, reaching nearly 630 million Swiss francs (approximately 790 million USD).
  • The two countries have also collaborated in education, innovation, sustainable development, tourism, and culture, with around 150 Vietnamese students, apprentices, and researchers studying at Swiss universities.
  • Parliament relations between Vietnam and Switzerland have continued to thrive, with regular consultation and support for each other in multilateral parliamentary forums.
  • The Vietnamese community in Switzerland, estimated at around 10,000 people, has integrated well into Swiss society and maintained strong ties to their homeland.

Statistics:

  • Bilateral trade between Vietnam and Switzerland: 860.7 million USD in 2021, 806.7 million USD in 2022, 825.8 million USD in 2023, and 811.2 million USD in 2024.
  • Number of Vietnamese students, apprentices, and researchers studying at Swiss universities: around 150.
  • Total registered capital of Swiss companies operating in Vietnam: over 2.11 billion USD.
  • Amount of Swiss ODA to Vietnam since 1992: nearly 630 million Swiss francs (approximately 790 million USD).
  • Vietnamese community in Switzerland: estimated at around 10,000 people.

Sources:

  • [14th National Assembly's Press and Media Board]
  • [Embassy of Switzerland in Vietnam]
  • [Ministry of Foreign Affairs of Vietnam]

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