Politics

Vietnamese PM meets leader of Eurasian Economic Commission Council

Prime Minister Pham Minh Chinh met with Bakytzhan Sagintayev, Chairman of the Eurasian Economic Commission (EEC) Council, on the sidelines of the expanded BRICS Summit in Kazan city of Russia on October 24.

Prime Minister Pham Minh Chinh meets with Bakytzhan Sagintayev, Chairman of the Eurasian Economic Commission (EEC) Council (Photo: VNA)
Prime Minister Pham Minh Chinh meets with Bakytzhan Sagintayev, Chairman of the Eurasian Economic Commission (EEC) Council (Photo: VNA)

Kazan (VNA) - Prime Minister Pham Minh Chinh met with Bakytzhan Sagintayev, Chairman of the Eurasian Economic Commission (EEC) Council, on the sidelines of the expanded BRICS Summit in Kazan city of Russia on October 24.

The Prime Minister emphasised Vietnam's high regard for the EEC's role in promoting the effective implementation of the Vietnam - Eurasian Economic Union Free Trade Agreement (VN-EAEU FTA).

He highlighted that after nearly a decade of enforcement, the agreement has helped establish a solid framework for cooperation to deepen relations between Vietnam and the EAEU member states, bringing many tangible benefits to both sides.

Extending congratulations to Vietnam's new President Luong Cuong, Sagintayev noted the positive impact of the FTA on trade growth.

He expressed delight at the increase in bilateral trade from 1.8 billion USD in 2021 to 6.8 billion USD in 2023 and showed the confidence that cooperation between Vietnam and the EAEU will continue to flourish.

Both sides agreed to continue effectively implementing the VN-EAEU FTA to meet the growing cooperation demand and economic potential of Vietnam and the EAEU. They also agreed to further open markets, resolve trade barriers in a timely manner, and address challenges related to payment mechanisms, transportation, and the mobility of people and entrepreneurs.

The Vietnamese leader proposed that the EAEU explore ways for developing supply chains, sea and rail transport, and logistics to boost trade in goods between Vietnam and Central Asia, as well as each of the EAEU member states.

He also suggested that the EAEU members consider removing threshold protection measures and increasing quotas for certain Vietnamese products.

The two sides should enhance cooperation based on interest harmonisation and risk sharing, and make better use of untapped opportunities to create breakthroughs in economic and trade relations, the PM added.

On this occasion, he invited the EEC Counil Chairman to visit Vietnam, and Sagintayev accepted the invitation with pleasure./.

VNA
#Eurasian Economic Commission Council #Pham Minh Chinh #FTA #BRICS Summit #Vietnam
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