The Free Trade Agreement (FTA) between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan will bring economic, trade, service and investment benefits to all parties.
The head of the European Market Department under the Ministry of Industry and Trade, Dang Hoang Hai, made this claim to reporters on the sidelines of the first session of the FTA research group in Hanoi on Oct. 11.
The meeting was an important start to allow the parties to implement the next steps for the signing of the agreement, he said.
He added that the FTA between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan would open up prospects for a large free trade area and tighten the traditional and strategic relations between them.
In his opinion, Russia was interested in FTA with Vietnam as the Southeast Asian country may develop a strategic position that helps Russia restore its presence in Asia, particularly in the Southeast Asia region.
The FTA enables Vietnam to boost its agricultural, seafood and garment products to Russia , and Russia to export fertiliser, oil and gas, atomic energy, heavy industry and cars to Vietnam .
“We hope the FTA will help improve Vietnam-Russia trade ties,” Hai said, adding that two-way trade between the two countries is expected to reach 3 billion USD in 2011 and 10 billion USD in the near future.
In order to boost strategic relations between the two countries, as well as between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan , leaders of Vietnam and Russia agreed to sign an FTA.
Following the roadmap, negotiations will cover three main issues of tariffs, service, plus investment and intellectual property./.
The head of the European Market Department under the Ministry of Industry and Trade, Dang Hoang Hai, made this claim to reporters on the sidelines of the first session of the FTA research group in Hanoi on Oct. 11.
The meeting was an important start to allow the parties to implement the next steps for the signing of the agreement, he said.
He added that the FTA between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan would open up prospects for a large free trade area and tighten the traditional and strategic relations between them.
In his opinion, Russia was interested in FTA with Vietnam as the Southeast Asian country may develop a strategic position that helps Russia restore its presence in Asia, particularly in the Southeast Asia region.
The FTA enables Vietnam to boost its agricultural, seafood and garment products to Russia , and Russia to export fertiliser, oil and gas, atomic energy, heavy industry and cars to Vietnam .
“We hope the FTA will help improve Vietnam-Russia trade ties,” Hai said, adding that two-way trade between the two countries is expected to reach 3 billion USD in 2011 and 10 billion USD in the near future.
In order to boost strategic relations between the two countries, as well as between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan , leaders of Vietnam and Russia agreed to sign an FTA.
Following the roadmap, negotiations will cover three main issues of tariffs, service, plus investment and intellectual property./.
