(VOVworld) - A business forum was held in Moscow on Sunday to promote cooperation between Vietnam and Russia when the Vietnam – Eurasian Economic Union (EAEU) free trade agreement comes into effect this October.

Deputy PM Trinh Dinh Dung at the Vietnamese Entrepreneurs’ Forum in Russia. (Photo: Quang Vinh/Vietnam+)

Addressing the event, Deputy Prime Minister Trinh Dinh Dung said one of Vietnam’s most significant accomplishments was becoming a middle-income country from an under developed nation.

He attributed the achievements to contributions from overseas Vietnamese, including those in Russia.

Mr. Dung said the free trade pact between Vietnam and the EAEU is an opportunity and a challenge and is expected to boost bilateral trade, investment, and tourism.

But to fully benefit from the deal, the Vietnamese community in Russia should use more legal and transparent business models and increase the quality of products in accordance with international standards.