(VOVworld) - Russian President Vladimir Putin signed a bill to validate the Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) on Sunday.

The FTA between Vietnam and the Eurasian Economic Union (EAEU) was signed in May 2015. (Photo: VNA)

In April, the Lower House and State Duma of Russia ratified the deal, the first FTA between the union which comprises Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan and a third party. The agreement was signed on May 29^th 2015 in Burabay, Kazakhstan, to facilitate trade and investment between member countries. Under the agreement, Vietnam and the EAEU will eliminate tariffs on goods originating in the other party. The agreement applies protective, anti-dumping and compensation measures, similar to WTO regulations.