PM: FTA upgrades VN-Customs Union relations to higher level

PM Nguyen Tan Dung (R) receives Minister for Trade of the Eurasian Economic Commision Andrey Slepnev, Phu Quoc Island, December 14, 2014 - Photo: VGP/Nhat Bac

PM Dung highly valued the efforts of the two negotiation delegations, proposing the two sides actively complete the remaining procedures for a Free Trade Agreement (FTA) between Viet Nam and the Customs Union of Russia, Belarus and Kazakhstan to be inked in early 2015, which will bring the relationship between Viet Nam and the Custom Union to a higher level.

He expected that the Agreement will pave the way for Viet Nam and the Customs Union to strengthen cooperation in education-training, science-technology and culture as well as expanding the cooperation scope and markets for the members of the Agreement.

Viet Nam will do its utmost to cooperate with Russia, Belarus and Kazakhstan to enhance the relations more effectively to meet the desires of all sides’ leaders, he confirmed.

Minister Andrei Slepnhev highlighted the political support of the high-ranking leaders, which is viewed as a critical factor to the completion of the FTA.

Viet Nam is the only nation in Asia-Pacific joining all the regional connection and integration process, so the signing of the FTA will create a larger cooperation space and an effective tool between the Customs Union and Viet Nam, the Minister revealed.

Minister Andrei Slepnhev hoped that the signing of the FTA will raise trade turnover between Viet Nam and Russia to US$10 billion before 2020.

Since January 1, 2015, the Customs Union will become the Eurasian Customs Union with the participation of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.

By Thuy Dung