In his speech, Ambassador Mai Phan Dung, Head of the Vietnamese Delegation in Geneva, spotlighted Norway’s open trade policies, especially its mandatory electronic data exchange through the value-added tax system for e-commerce, which reduces trade costs and streamlines cross-border commerce.
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Ambassador Mai Phan Dung, Head of the Vietnamese Delegation in Geneva (first from right) |
Vietnam acknowledges Norway's commitment to sustainability and green growth, he said, citing the 2024 Sustainable Products Act and updated public procurement regulations that embed environmental, social, and governance (ESG) principles into its trade policies.
On the multilateral front, the diplomat welcomed Norway’s active engagement in WTO frameworks, from reforms related to the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), climate change and environmental issues, to transparent investment screening processes.
Bilaterally, Vietnam–Norway trade is gaining momentum, hitting 653 million USD in 2024 and 250 million USD in the first four months of 2025, up 38.3% annually. As of late April, Norway poured over 202 million USD into 60 valid projects spanning maritime engineering, aquaculture, renewable energy, and hi-tech manufacturing in Vietnam.
Vietnam welcomes Norwegian clean energy firms’ growing interest in supporting the country’s green transition and offshore wind power development, he said, adding that Vietnam wishes to team up in areas of mutual strength, including food and consumer goods, supporting industries, marine economy, and renewable energy.
Ahead of the review, Vietnam submitted a slew of questions on regulatory frameworks to Norway, covering sanitary and phytosanitary (SPS) measures, technical trade barriers, VAT on e-commerce, tariff rate quotas, intellectual property, sustainable development, government procurement, and investment regimes.
Source: VNA