11:29 | 10/04/2015 Trade
The free trade agreement (FTA) between the Eurasia Economic Union and Vietnam is expected to go into effect within this year, according to Minister Tatyana Valovaya of the Eurasia Economic Union( EEU).
Minister Tatyana Valovaya of the Eurasia Economic Union (Photo: armbanks.am)
During a working visit with the French Businessmen Association on April 7 in Paris, Valovaya said the EEU (including Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia) hopes to sign the FTA with Vietnam in the first half of this year and implement it immediately thereafter.
At a meeting with businessmen on April 7 in Ho Chi Minh City, Russian Prime Minister Dmitry Medvedev highlighted the benefits for Vietnam in the draft FTA, saying the negotiations are close to a conclusion with almost all issues addressed.
Deputy Minister on the Development of the Far East Maxim Shereikin told reporters from the Russian Ria Novosti News Agency on April 8 that businessmen from Vietnam as well as other Southeast Asian nations are expected to be big investors in the Far East region of Russia.
He highlighted the potential in the Far East for wood processing, the light industry and gas liquefaction as huge opportunities for Vietnamese and Thai investors.