Hanoi, Oct. 27 -- The Vietnam-European Free Trade Association (EFTA) Free Trade Agreement (VEFTA), signed on October 18, is expected to offer Vietnamese mechanical engineering and electronics businesses an opportunity to move beyond low-value assembly and integrate more deeply into global high-tech supply chains, while gaining access to advanced European manufacturing technologies.

While Vietnam's free trade agreements often draw attention for their benefits to traditional exports such as agricultural products, seafood and textiles, electronics and mechanical components hold significant strategic potential in trade with EFTA, comprising Switzerland, Norway, Iceland and Liechtenstein.

Unlike mass-market destinations, EFTA markets have st...