MINSK, 25 January (BelTA) - Belarus' merchandise export to Vietnam surged by 40% following the conclusion of the free trade area (FTA) between Vietnam and the Eurasian Economic Union (EAEU), Belarus' First Deputy Minister of Foreign Affairs Andrei Yevdochenko said during the roundtable dedicated to the transition of the EAEU presidency to the Russian Federation, BelTA has learned.
Andrei Yevdochenko welcomed the good progress made by the EAEU in the matter of conclusion of preferential trade agreements with third countries. Gradual strengthening of export and investment positions in foreign markets brings good dividends. The Eurasian Economic Commission has had a big role to play in this. The practical implementation of the free trade agreement between the EAEU and Vietnam is in progress. “In the first year of the FTA, the Belarusian merchandise export to this country, without regard for potash fertilizers, surged by 40%. The total trade of all EAEU countries with Vietnam increased by a third,” Andrei Yevdochenko said.
The agreement leading to a free trade zone with Iran is being finalized. Work continues on the FTAs with Singapore and Serbia. “Soon we will start talks on similar agreements with India and Egypt. The new agreement on trade and economic cooperation with the People's Republic of China, which will be rolled out soon, aims to liberalize trade relations with that country,” he added.
Regarding Russia's EAEU presidency in 2018, Andrei Yevdochenko said that Russia, taking into account its political and economic clout, plays the role of locomotive in the Eurasian integration. “We believe that during Russia's presidency this leadership will further translate in the initiatives and practical actions aimed at building the full-fledged economic union of the five,” he said.
