A conference on establishing a free trade zone between the EurasianEconomic Union (EAEU) and Vietnam was held at the Far East Instituteunder the Russian Academy of Sciences (RAN) in Russia on June 8.
Theevent is the first scientific conference in Russia on the free tradeagreement (FTA) between EAEU and Vietnam which was signed on May 29.
Theevent drew the participation of experts from the Russian Ministry ofEconomic Development, Economic Commission for Asia and Europe, VietnamTrade Office in Russia, Vietnamese Business Association in Russia, amongothers.
Eleven reports were presented at the conference,addressing technical aspects of the FTA, including tariff reductionschedules, legal frameworks, the role of the agreement in promotingtrade between Vietnam and the 182-million population market of the EAEUas well as the economic benefits and impacts in terms of politics,geopolitics and policies that the FTA brings.
The VietnameseEmbassy’s Commercial Counsellor in Russia Pham Quang Niem said the FTAwill open up numerous business opportunities for both sides as about 90percent of items will experience reduced tariffs, 60 percent of whichwill have zero tariffs when the FTA officially takes effect.
Accordingto Deputy Director of the Trade Policy Committee of the EurasianEconomic Commission (EEC) Artyom Anikyev, the deal is the firstinternational agreement of the group and will create a precedent.
Henoted that Vietnam is a key Southeast Asian partner to all memberstates of EAEU and the deal is intended to help the group penetrateSoutheast Asian and Asian markets.-VNA
Theevent is the first scientific conference in Russia on the free tradeagreement (FTA) between EAEU and Vietnam which was signed on May 29.
Theevent drew the participation of experts from the Russian Ministry ofEconomic Development, Economic Commission for Asia and Europe, VietnamTrade Office in Russia, Vietnamese Business Association in Russia, amongothers.
Eleven reports were presented at the conference,addressing technical aspects of the FTA, including tariff reductionschedules, legal frameworks, the role of the agreement in promotingtrade between Vietnam and the 182-million population market of the EAEUas well as the economic benefits and impacts in terms of politics,geopolitics and policies that the FTA brings.
The VietnameseEmbassy’s Commercial Counsellor in Russia Pham Quang Niem said the FTAwill open up numerous business opportunities for both sides as about 90percent of items will experience reduced tariffs, 60 percent of whichwill have zero tariffs when the FTA officially takes effect.
Accordingto Deputy Director of the Trade Policy Committee of the EurasianEconomic Commission (EEC) Artyom Anikyev, the deal is the firstinternational agreement of the group and will create a precedent.
Henoted that Vietnam is a key Southeast Asian partner to all memberstates of EAEU and the deal is intended to help the group penetrateSoutheast Asian and Asian markets.-VNA
