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Vladimir Putin signed the Federal Law On Ratifying the Free Trade Agreement between the Eurasian Economic Union and its Member Countries and the Socialist Republic of Vietnam, Protocol No. 1 between the Russian Federation and the Socialist Republic of Vietnam to the Free Trade Agreement between the Eurasian Economic Union and its Member Countries and the Socialist Republic of Vietnam, and Protocol No. 2 between the Russian Federation and the Socialist Republic of Vietnam to the Free Trade Agreement between the Eurasian Economic Union and its Member Countries and the Socialist Republic of Vietnam.
The Free Trade Agreement was signed in Burabay (Kazakhstan) on May 29, 2015.
It will create a free trade zone between the EAEU members and Vietnam.
The Agreement will facilitate mutual trade growth and strengthen trade and economic ties between the participating countries. It will also contribute to the EAEU’s plans to take a greater part in the fast-developing integration processes underway in the Asia-Pacific region.
Protocol No. 1 to the Agreement specifies the list of obligations taken on by Russia and Vietnam regarding trade in services, company founding and operation, and movement of individuals.
Protocol No. 2 settles the conflict between the Agreement’s provisions and the provisions of the Marrakesh Agreement Establishing the World Trade Organisation, taking into account the obligations undertaken by Russia and Vietnam within the WTO.
May 2, 2016