Hanoi seeks to increase trade with the Eurasian Economic Union (EAEU) up to＄10 billion in 2020, Vietnamese Deputy Foreign Minister Bui Thanh Son said on Monday
HO CHI MINH CITY (Pakistan Point News / Sputnik - 25th February, 2019) Hanoi seeks to increase trade with the Eurasian Economic Union (EAEU) up to＄10 billion in 2020, Vietnamese Deputy Foreign Minister Bui Thanh Son said on Monday.
"We actively cooperate in the field of economy, education, culture. After signing a free trade agreement between Vietnam and the EAEU in October 2016, our trade turnover increases every year. We strive to reach $10 billion in 2020," Bui Thanh Son said at the international Valdai discussion forum.
In May 2015, the EAEU and Vietnam signed an agreement on a free trade zone creation, stipulating mutual abolition of trade duties, which took effect on October 5, 2016. In 2018, the bilateral trade exceeded $6 billion. At the same time, the agreement on a free trade zone with Vietnam became the first agreement of this kind for the EAEU, which was signed with third countries.
The EAEU is an economic bloc comprising Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan. It aims to encourage regional economic integration through the free movement of goods, services, and people within the union.
