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Vietnam, EEU target further trade ties

by VTV426 November 2015 Last updated at 09:09 AM

VTV.vn - A Vietnam-Eurasian Economic Union business forum was held in Hanoi on November 25 to help the businesses from the two study their respective markets and seek investment opportunities.

The Eurasian Economic Union comprises Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan which are already traditional trading partners for Vietnam.

About 100 businesses from Vietnam and the five countries from Eurasian Economic Union attended the event. The companies are specialised in consumer goods, gas and energy, financial services, car manufacturing and civil aviation.

Trade between Vietnam and the EEU posted an annual growth rate of about 5-6 percent, reaching 4.2 billion USD in 2014. However, the figure remains modest compared to the great potential and demands for further trade ties. 

Economists believe the signing of a free trade agreement by the two sides has created favourable conditions for trade and investment activities in the coming time. However, they suggested that Vietnamese businesses should focus on transportation, freight and payment issues when dealing with the EEU countries.

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