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EAEU-Việt Nam Free Trade Area and opportunities discussed in Russia

Update: June, 28/2017 - 12:43
A booth displaying Vietnamese garments and clothing at an exhibition in Russia. Việt Nam plays an important role in Russia’s “Look East” policy and in improving the economies of the EAEU and Russia. — Photo: vietnamplus
Viet Nam News

MOSCOW — A roundtable discussion on “The Free Trade Area between the Eurasian Economic Union (EAEU) and Việt Nam: New Opportunities for Business” took place in Moscow on Tuesday, inspired by the upcoming visit of President Trần Đại Quang to Russia.

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 Việt Nam and Russia.

The roundtable discussed economic co-operation between Việt Nam and Russia as well as Việt Nam and the EAEU. Delegates proposed ways to solve problems, including new bilateral co-operation models, which can help bring up Việt Nam-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 co-operation between the two countries.

Chairman of the Vietnamese Association in Russia Đỗ Xuân Hoàng outlined several barriers to bilateral investment, particularly in terms of tariff and administrative systems, but he believed these issues would be soon solved.

During the event, attendees said that Việt Nam plays an important role in Russia’s “Look East” policy and in improving the economies of the EAEU and Russia. They expected Việt Nam would act as a bridge for Russia to make inroads into Southeast Asia and Pacific Asia markets. — VNS

 

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