EAEU-Vietnam Free Trade Area and opportunities discussed in Russia
A roundtable discussion on “The Free Trade Area between the Eurasian Economic Union (EAEU) and Vietnam: New Opportunities for Business” took place in Moscow on June 27, inspired by the upcoming visit of President Tran Dai Quang to Russia.
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The event was organised by the Russian Chamber of Commerce, the Workshop for Eurasian Ideas Fund and the NGO “Business People”.
It was attended by more than 100 diplomats, policymakers, economists, analysts and experts in the field of Eurasian economic integration and representatives from authorities and commercial companies from Vietnam and Russia.
The roundtable discussed economic cooperation between Vietnam and Russia as well as Vietnam and the EAEU. Delegates proposed ways to solve problems, including new bilateral cooperation models, which can help bring up Vietnam-Russia trade to US$10 billion by 2020.
In his opening remarks, Chairman of the expert council of the Workshop for Eurasian Ideas Grigory Trofimchuk said taking place ahead the of President Quang’s visit, the event has political significance and drives the development of cooperation between the two countries.
Chairman of the Vietnamese Association in Russia Do Xuan Hoang outlined several barriers to bilateral investment, particularly in terms of tariff and administrative systems, but he believed these issues will be soon solved.
During the event, attendees said that Vietnam plays an important role in Russia’s “Look East” policy and in improving the economies of the EAEU and Russia. They expected Vietnam will act as a bridge for Russia to make inroads into Southeast Asia and Pacific Asia markets.
