However, experts emphasize that turning trade preferences into tangible commercial results requires a synchronized, proactive approach from both policymakers and the business community.

Translating commitments into contracts

Having been signed recently on October 18, 2026, VEFTA still requires formal ratification before entering into force.Consequently, the current interim period plays a pivotal role in laying the legal groundwork, disseminating commitments, and equipping businesses to capitalize on incoming tariff cuts.

Minister of Industry and Trade Le Manh Hung stated that the Ministry will collaborate closely with relevant ministries and agencies to submit an enforcement roadmap and necessary legal frameworks to competent authorities, aiming for swift ratification and enforcement at the earliest opportunity.

Alongside refining the legal landscape, regulatory bodies must provide clear, granular guidance concerning tariff schedules, rules of origin, certification procedures, and market standards.This information must remain accessible and practical, particularly for small and medium-sized enterprises (SMEs), which often grapple with limited resources and constrained export experience in high-standard markets.

To stand shoulder-to-shoulder with the business community, the Ministry of Industry and Trade is finalizing an FTA Management and Implementation System anchored by three core pillars: The FTA Portal: A public digital gateway delivering transparent service data; The Local FTA Index: A performance metric evaluating FTA execution across localities; The FTA Ecosystem: A synergistic network designed to forge tighter links among stakeholders within the value chain.

These three pillars are expected to enhance information accessibility, boost the enforcement efficiency of free trade agreements, and foster closer coordination between regulatory bodies, local authorities, and the business community. In turn, enterprises will be equipped with robust tools to spot opportunities, assess their readiness, and tailor action plans matching their operational capacities.

Levelling up to meet global standards

Business associations note that VEFTA should be viewed as a gateway to high-end consumer segments valuing stringent quality standards, aligning with a strategic shift toward boosting export value rather than chasing sheer volume.

Yet, market access does not automatically translate into commercial dominance.Real success will favor enterprises that meticulously prepare their product quality, certifications, traceability systems, rules of origin, and packaging to meet the exacting demands of importers, retail giants, and food service networks across Switzerland, Norway, Iceland, and Liechtenstein.

"While awaiting ratification, businesses must audit their product portfolios, dissect tariff commitments and rules of origin, evaluate technical barriers, and polish their compliance records and traceability systems," advisors recommend.

For local enterprises, outdated business models relying on cheap labor or raw resource exploitation must be phased out.These must be decisively replaced by green manufacturing, transparent supply chains, and serious investments in corporate governance.

Over the long term, VEFTA’s true measure of success will extend far beyond bilateral trade growth figures. It will be reflected in upgraded export quality, diversified markets, accelerated technology inflows, and a stronger standing for Vietnamese enterprises within global value chains.

Moving from market-opening milestones to bottom-line results is an evolutionary journey demanding synchronized preparation. Once the enforcement framework is complete, commitments are thoroughly communicated, and businesses actively step up to meet international benchmarks, VEFTA will serve as a powerful catalyst for trade, investment, and the overarching competitiveness of Vietnam’s economy.