In trade relations, seafood is an export item bringing great value in the Swiss market. (Photo: laodong.vn)
According to Swiss Customs data, the total import-export turnover between the two countries increased from 1.53 billion USD in 2015 to 2.407 billion USD in 2021. Vietnam has always maintained a trade surplus with the Swiss market.
The structure of Vietnam’s export products to Switzerland is also constantly expanding. The number of groups of goods exported to Switzerland, by Vietnam's HS code, has increased from 80 groups in 2015 to 92 groups in 2021.
In 2021, Vietnam’s exports to Switzerland were valued at 1.878 billion USD. Vietnam’s main export items to the market are electrical machinery and equipment and components (mainly mobile phones) worth 485.9 million USD; footwear, 427.4 million USD; textile and garment, 413.2 million USD; agricultural products and food, 143.2 million USD; and machinery and mechanical equipment, 78.7 million USD.
Vietnam’s agricultural and food exports to Switzerland focus on seafood (56.1 million USD), coffee (29.8 million USD), processed foods (22.6 million USD) and cashew (15.8 million USD).
According to the Ministry of Industry and Trade, in recent years, economic and trade relations between Vietnam and Switzerland have developed positively. The legal corridor in economic and trade relations between the two countries has been made relatively complete.
They have signed an investment protection agreement, an agreement to avoid double taxation, and an agreement on protection of intellectual property rights. These offer important legal bases allowing businesses of the two countries to promote cooperation.
According to the Ministry of Industry and Trade, more than 100 Swiss companies are operating in Vietnam, including many big names such as Nestle, ABB, Novatis, Roche and Holcim. Many Swiss businesses are very interested in expanding business cooperation opportunities with Vietnam in the coming time./.