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EAEC - Vietnam Free Trade Zone
28.05.2015 00:10
EAEC - Vietnam Free Trade Zone

The Russian government approved the agreement on free trade zone between the Eurasian Economic Union (EAEC) and Vietnam. It was reported by the press service of the Cabinet of Ministers. The agreement provides for the tariff liberalization of trade in goods between the member states of the EAEC and Vietnam by reducing import duties on most goods or removing them.

      Besides, the parties will retain tariff protection for some of the most sensitive commodity items. Russia will have to fiercely compete for Vietnam. According to the government, the implementation of the agreement will help to increase mutual trade turnover and development of trade and economic relations between its participants, as well as make it possible to solve the problem of connecting the EAEC to the integration processes in the Asia-Pacific region. In addition, the proposal to sign an agreement between Russia and Vietnam concerning the provision of MFN treatment to Russian service providers and investors was accepted by the Vietnamese party.


Author: Anna Dorozhkina

Tags: Russia International     

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