Vietnam may join the free trade zone

Socialist Republic of Vietnam will join the free trade zone with the Customs Union of Russia, Belarus and Kazakhstan. The actual joining to the Customs Union is not discussed. It is planned that the contract regarding this issue will be signed during the visit of Vladimir Putin of Hanoi.

Information about the fact that The Customs Union and Socialist Republic of Vietnam may finish the negotiations regarding the creation of the free trade area may be found in the article about the President of Russia under the title “Russia – Vietnam together towards to the new boundaries of cooperation” published in the leading print publications before the visit of Putin to this country.

In the Kremlin they anticipate that joining of Vietnam to the free trade zone will allow Russia to accelerate the turnover and boost it up to 10 billion dollars by 2020. Last year the two-way turnover according to the calculations of the Russian side constituted 3.6 billion dollars. Herewith the turnover between Vietnam and China comprises 13 billion dollars.

President Trương Tấn Sang declared that Vietnam is interested in the soonest membership in the Customs Union of Russia, Belarus and Kazakhstan in July of the last year summarizing his visit to Moscow. This intention was confirmed at the APEC summit in Vladivostok. In Hanoi they do not exclude that the next step in the form of the application to enter the Customs Union will be made. The exact date is not known but 2014 is being discussed.

Russia takes the 19th place among one hundred counties that invest in Vietnam. More than 92 Russian investment projects are registered here the value of which is 1.9 billion dollars.

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