At a working session with the Ambassador Extraordinary and Plenipotentiary of Switzerland to Viet Nam on December 15, the Minister of Agriculture and Environment Tran Duc Thang expressed appreciation for the Swiss Government’s proposal on cooperation in carbon credit exchange under Article 6 of the Paris Agreement. He emphasized that international carbon credit exchange would support countries in fulfilling their nationally determined contributions (NDCs) while working toward the shared goal of net-zero emissions by 2050.
Bilateral cooperation continues to deepen
Speaking at the meeting, Minister Tran Duc Thang affirmed that since the establishment of diplomatic relations in 1971, the friendship and cooperation between Viet Nam and Switzerland have been continuously strengthened and developed in an increasingly substantive and effective manner.
In 2024, bilateral trade turnover exceeded USD 811.2 million, with Viet Nam’s exports reaching USD 183.6 million and imports totaling USD 627.6 million. This made Viet Nam Switzerland’s fourth-largest trading partner within ASEAN. Switzerland is currently the 20th largest foreign investor among 150 countries and territories investing in Viet Nam, with 225 valid projects and total registered capital exceeding USD 2.1 billion.
In the fields of agriculture and environment, the Minister highly appreciated the support programs and projects provided by the Swiss Government to Viet Nam in recent years. Notable examples include the project on enhancing compliance capacity with standards and quality requirements in Viet Nam’s tropical fruit value chains, with a total budget of EUR 1.3 million, implemented during the 2023–2026 period through UNIDO; and the Mekong Delta Climate Resilience Program (MCRP), funded by EUR 6.3 million in non-refundable ODA and implemented from 2019 to 2025 through GIZ.
In particular, following typhoon Yagi in September 2024, which caused severe damage in many localities, Switzerland promptly deployed expert teams to support clean water supply, environmental sanitation, emergency shelter, and disaster risk reduction, while also approving a CHF 1 million assistance package to help affected communities recover. These timely actions further demonstrated Switzerland’s sense of responsibility and its continued solidarity with Viet Nam amid increasing climate-related risks.
Advancing climate cooperation and carbon credit exchange
Discussing cooperation on climate change response, Minister Tran Duc Thang affirmed that Viet Nam is steadily implementing the commitments announced at COP26, including the goal of achieving net-zero emissions by 2050. This target places urgent demands on the agriculture and environment sector, which holds significant potential for emissions reduction and enhanced climate resilience.
According to the Minister, international carbon credit exchange will contribute to the implementation of nationally determined contributions (NDCs), while also generating additional financial resources for businesses and encouraging private sector investment in low-emission technologies and production processes. In this way, the mechanism not only promotes innovation but also serves as a catalyst for green transition and sustainable development.
At present, the Ministry of Agriculture and Environment is leading the development of a draft decree on the international exchange of greenhouse gas mitigation outcomes and carbon credits. The decree is expected to be submitted to the Government for promulgation in December 2025, providing a comprehensive legal framework for the implementation of cooperation mechanisms under Article 6 of the Paris Agreement.
On the Swiss side, Ambassador Thomas Gass expressed deep sympathy over the losses caused by natural disasters in Vietnam in recent years and commended the proactive approach and strong efforts of the Vietnamese Government in disaster response and recovery. He affirmed Switzerland’s readiness to continue accompanying Viet Nam by strengthening technical assistance, sharing experience in building legal frameworks and implementing carbon credit exchange mechanisms, and expanding cooperation in agriculture, disaster risk reduction, and climate change adaptation.
Minister Tran Duc Thang emphasized that the draft agreement on carbon credit exchange between Viet Nam and Switzerland should continue to be carefully reviewed to ensure full compliance with Viet Nam’s legal regulations. On that basis, he proposed enhanced technical coordination between the two sides and assigned the Climate Change Department as the focal point for exchanges with the Swiss side to further refine the draft agreement, drawing on experience from similar agreements Viet Nam has concluded with Japan and Singapore.
Once finalized, the Ministry of Agriculture and Environment will report to the Prime Minister to seek approval to initiate negotiations and establish a negotiating task force with the participation of relevant ministries and agencies, paving the way for the signing of the agreement in accordance with regulations on international treaties.
Minister Tran Duc Thang expressed his confidence that, building on the solid foundation of the Comprehensive Partnership and close coordination between the two sides, Viet Nam–Switzerland cooperation in agriculture and environment—particularly in carbon credit exchange—will continue to develop effectively, making tangible contributions to sustainable development and climate change response goals in both countries.
Minister of Natural Resources and Environment Dang Quoc Khanh and Minister of Manpower, who also serves as the Second Minister of Trade and Industry of Singapore, Tan See Leng, signed a Memorandum of Understanding between the Ministry of Natural Resources and Environment of Vietnam and the Ministry of Trade and Industry of Singapore on continuing to implement the Memorandum of Cooperation under Article 6 of the Paris Agreement.
On May 6, a delegation from the Ministry of Natural Resources and Environment, led by Deputy Minister Tran Quy Kien, held a working session with the People's Committee of Kon Tum Province on state management of mineral resources within the province.
On August 8th, in Hanoi, Deputy Minister of the Ministry of Natural Resources and Environment, Le Cong Thanh, met and worked with Mr. Selwin Hart, Assistant Secretary-General, Special Advisor on Climate Action of the United Nations (UN).
In the upcoming period, the European Investment Bank (EIB) stands ready to provide Vietnam with resources, technology, and policy experts to facilitate an equitable energy transition. This commitment was solidified during a meeting held on September 8th between Vietnam's Minister of Natural Resources and Environment, Mr. Dang Quoc Khanh, and Mr. Kris Peeters, Vice President of the European Investment Bank (EIB).
