MINSK, 25 May (BelTA) – Belarusian MPs ratified the free trade agreement between the Eurasian Economic Union (EEU) and Vietnam on 25 May, BelTA has learned.
The agreement was signed in Kazakhstan on 29 May 2015. It is a universal and integrated document that regulates issues related to the movement of goods and services.
After the document comes into force, customs duties will be zeroed on 60% of commodity items traded between the parties. By 2025 when all transition periods are over, customs duties on almost 90% of commodity items will be reduced to zero.
First Deputy Minister of Foreign Affairs Alexander Mikhnevich explained that the agreement would promote trade and economic cooperation between Belarus and Vietnam, help strengthen the positions of the Belarusian export on the Vietnamese market and also diversify exports to Vietnam.
“Vietnam is a member of the Association of South East Asian Nations (ASEAN) where there is a free trade zone too. Belarusian exporters will get access to the markets of the region,” Alexander Mikhnevich added.
