Norway, alongside Iceland, Liechtenstein, and Switzerland, signed a new free trade agreement with Vietnam late last night Norwegian time. The agreement will eliminate tariffs on approximately half of all Norwegian exports to Vietnam once it takes effect. Within seven years, the agreement aims to make 98 percent of Norwegian exports to Vietnam tariff-free, according to a government press release. Currently, Vietnam imposes tariffs of up to 15 percent on Norwegian salmon and mackerel. The new agreement will allow salmon to be exported tariff-free immediately, while mackerel will benefit from zero tariffs after a three-year phasing-in period. Trade between Norway and Vietnam totaled approximately 19 billion Norwegian kroner last year.