FTA between Vietnam and EEU to enter into force this summer

According to the Russian Ambassador to Vietnam the free trade agreement between Vietnam and the Eurasian Economic Union shall enter into force this summer
FTA between Vietnam and EEU to enter into force this summer
29 June 14:39 2016 Print This Article

The ratification of the free trade agreement between Vietnam and the Eurasian Economic Union (EEU) is in its final stage, the document will come into force this summer, said Russian Ambassador to Vietnam Constantin Vnukov in an interview with Russian newsagency TASS.

“We expect a lot from this agreement. Indeed, it is a first agreement of this kind for the EEU and it is supposed to be a blueprint for similar documents to be signed between the Union and other countries, including  Southeast Asia,” he said.

According to Mr Vnukov, the ratification of the FTA by the six Member States is at its final stage and will come into force this summer. “For us it is important that it happens before the Vietnam’s other preferential trade agreements entered into force, especially what concerns the documents with the European Union within the frameworks of the Trans-Pacific Partnership,” he said.

“Russian businessmen will be able to better adapt to the new conditions of doing business in Vietnam and to take its place on the market,” the ambassador said.

The FTA between the Eurasian Economic Union and Vietnam was signed on May 25, 2015.

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