Vietnam will be removed from the list of countries entitled to tariff preferences offered by the Eurasian Economic Union (EAEU) under the Generalised Scheme Preferences (GSP) from October 12, according to the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade).
Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on November 14 for Nurlan Nigmatulin, Chairman of the Mazhilis (lower house) of the Parliament of Kazakhstan – one of the five members of the Eurasian Economic Union (EAEU) that shares a free trade agreement with Vietnam.
As a Eurasian economic powerhouse, Russia’s look east policy is in line with the interests of regional countries, including Vietnam, said a Vietnamese official at a seminar on September 4 as part of the ongoing 5th Eastern Economic Forum (EEF) in Russia.
Vietnam-Russia economic and trade relations have been growing continuously over the past years, according to the Ministry of Industry and Trade (MoIT).
Trade between Vietnam and Russia was estimated at 4.57 billion USD in 2018, up 28.6 percent year on year, partly thanks to the enforcement of the free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU).