Vietnam's seafood exports to the European Free Trade Association (EFTA) remain modest but offer significant long-term growth potential, thanks to the bloc's strong purchasing power and steady demand for high-quality food products, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The outlook has improved following the joint declaration issued by Vietnam and EFTA on July 2, 2026, announcing the successful conclusion of negotiations for a bilateral free trade agreement (FTA).

During the first five months of 2026, Vietnam exported seafood worth $13.44 million to Switzerland, down 15% from the same period last year and accounting for around 0.3% of the former's total seafood exports. Shipments in May alone totaled $3.5 million, a year-on-year decline of 13.5%.

In contrast, exports to Norway reached $7.03 million during the five-month period, up 36.7% from a year earlier. May exports rose 11.5% year-on-year to $1.64 million, highlighting growing demand in one of the bloc's key markets.

VASEP said that although EFTA is not yet a major export destination by volume, the bloc presents valuable opportunities for Vietnamese seafood producers seeking to diversify beyond traditional markets. While EFTA's population is relatively small, its member countries are highly developed economies, with strong consumer purchasing power and consistent demand for premium food products.

The association added that once the Vietnam–EFTA FTA is signed, ratified and enters into force, tariff reductions or eliminations will improve the competitiveness of Vietnamese seafood products that meet the agreement's rules of origin.

However, VASEP noted that businesses will only be able to fully benefit from the preferential tariffs if they comply with origin requirements, certification procedures, food safety regulations and the technical standards required by EFTA markets.