Photo: VGPThe Viet Nam Chamber of Commerce and Industry and the Trade of Asia – Europe Economic Committee jointly organized the Viet Nam-Eurasian Economic Union (EAEU) Business Forum on November 25.
The event created a chance for businesses in Viet Nam and the EAEU including Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan to comprehend benefits from the Free Trade Agreement after it was inked in May.
The Agreement was assessed to open a new development step in the economic relations between Viet Nam and the EAEU. Accordingly, 90% of tariff lines will be reduced to 0%.
Viet Nam-EAEU trade turnover witnessed an average growth from 5-6% per year, reaching US$4.2 billion in 2014.
Representatives of large businesses from the EAEU realized special opportunities when Viet Nam reduces 87.7% of tariff lines for such products as milk, fertilizer, oil and gas and chickens.
Vietnamese enterprises saw favorable opportunities for exporting aquaculture, garment and footwear when tariff lines will be cut down within the next five to 10 years.
At the forum, meetings and exchanges were held for investors and businesses to seek further cooperation./.