Free trade agreement between the EEU and Vietnam to enter into force on October 5

Almaty. August 22. Silkroadnews – Free Trade Agreement between the Eurasian Economic Union (EEU) and Vietnam will enter into force on October 5, press service of the Eurasian Economic Commission (EEC) reported.

«On October 5 a free trade agreement between the Eurasian Economic Union and Vietnam will enter into force. Since October 5 the reduced customs duty rates will be applied for the majority of goods our countries trade with», EEC press-release says.

As soon as the agreement comes into force Vietnam will open a market for the products of export interest to the EEU countries, in particular, agricultural products (beef, pork, poultry, meat processed products, canned fish, seeds, flour, dairy products, cheese, vegetable oil), animal feed, spirits.

In addition, the parties discussed the industrial products, such as precious stones, tires, asbestos, pipes, rolling, ships, mechanical and electronic equipment, automobile parts, steel products, agricultural machinery, buses, cars, trucks, oil.

To remind, the heads of governments of Kazakhstan, Russia, Belarus, Armenia, Kyrgyzstan and Vietnam signed an agreement on free trade zone with Vietnam in May 2015.