TRADE TURNOVER GROWS BETWEEN EAEU AND VIETNAM
Trade turnover is growing between the EAEU and Vietnam. It grew by 28% in seven months of operation of free trade agreement between the Eurasian Union and Vietnam. Export grew by 22% and import by 41%. This is just the first stage. There are few more stages of mutual trade simplification process. This data was announced during the joint committee meeting. The parties agreed on conducting consultation of veterinary services on granting permission to Vietnamese companies to supply seafood to the EAEU markets, and meat and poultry products from the EAEU to Vietnam’s market.
VERONIKA NIKISHINA, TRADE MINISTER, EURASIAN ECONOMIC COMMISSION:
- Over seven months, mutual trade agreement has demonstrated positive impact on business sphere. This impact is absolutely balanced and mutually beneficial. Thus, we see the growth in trade turnover in both sides by 30%. Increase in trade turnover refers not only to the goods listed in the tax reduction agreement but also those goods that are subject to withdrawal, which means that the agreement has multiple effects.
TRAN TUAN ANH, MINISTER OF INDUSTRY AND TRADE OF VIETNAM:
- We appreciated the positive effect that was reached in short period of time. We have listened to all parties, the representatives of all the EAEU countries who talked about the obstacles they faced when entering the Vietnamese market, and discussed measures on further simplification of trading procedures. We took into account all the proposals of each EAEU country and intend to jointly coordinate the further work.