Vietnam-EAEU FTA produces positive outcomes

Wednesday, April 24, 2024 - 12:41:48

Officials of Vietnam and the Eurasian Economic Union (EAEU) lauded the upbeat outcomes brought about by the EAEU – Vietnam free trade agreement in more than one year and a half since it took effect.

The enforcement of the FTA was reviewed at a working session between Vietnam’s Minister of Industry and Trade Tran Tuan Anh and Minister for Trade of the Eurasian Economic Commission Veronika Nikishina, in Moscow on June 18.

According to statistics of the Vietnam Customs, in 2017, Vietnam recorded a trade surplus of nearly 1 billion USD with the bloc.

In the first four months of 2018, the bilateral trade was at 1.53 billion USD, an annual increase of 35 percent.

The two ministers urged more joint efforts to clear hurdles for Vietnamese and EAEU businesses so that they can capitalize on favourable conditions created by the bilateral FTA and bolster bilateral trade towards a value of 10 billion USD in 2020.

VNA

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