(VOVworld) – The free trade agreement (FTA) signed between Vietnam and the Eurasian Economic Union (EAEU) marks Vietnam’s deepened integration into the international market, the Euro Presse Image highlighted on June 1st.
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| Prime Minister Nguyen Tan Dung (front, right) signs the FTA with the EAEU leaders. Russian PM Dmitry Medvedev is on the left (Photo: VNA) |
The trade deal will help the EAEU expand trade and investment ties with Southeast Asia and the Asia-Pacific region, the article cited Viktor Khristenko, Chairman of the Board of the Eurasia Economic Commission. Meanwhile, Vietnam, an ASEAN member, will serve as a bridge linking the EAEU and the ASEAN, assisting the union in extending its affiliation with the ASEAN Community, a 600 million-strong market with a GDP of 2.5 trillion USD. Two-way trade is forecast to expand 18-20 percent each year to 10-12 billion USD in 2020, from 4 billion USD in 2014. Vietnam is finalizing and has completed free trade negotiations with a number of countries including the US, Japan, the EU, Canada, Australia, New Zealand, and the Republic of Korea.