VN-EAEU FTA opens Belarusian market for Vietnamese enterprises

TIN LIÊN QUAN
	President meets Belarusian friendship association members, veterans
	President meets foreign leaders in China

The Department of European Market under the Ministry of Industry and Trade (MoIT) reported that Vietnam and Belarus enjoyed fine and multifaceted ties. The signed and effective agreements in the economy and trade including the Vietnam - Eurasian Economic Union Free Trade Agreement (FTA) and the Vietnam-Belarus Protocol on motor vehicles manufacturing in Vietnamese territories would spur the bilateral ties in economics, trade, and investment.

Viet Nam mainly shipped aquactic products,, furniture, apparel, footwear, natural rubber, cashew, pepper, tea, and computers to Belarus. (Photo: VGP News).

Statistics showed that the two-way trade volume between the two countries hit 94.5 million USD, including 2.5 million USD of export and 92 million USD of import. In Q1, 2017, trade turnover reached 37.7 million USD, including 1.4 million USD of export and USD 36.3 million of import.

So far, Vietnam mainly shipped aquatic products, furniture, apparel, footwear, natural rubber, cashew, pepper, tea, and computers to Belarus.

On the other hand, Vietnam imports fertilizer, machines, equipment, automobile spare parts, and chemical substance.

Both sides are working within the FTA between Vietnam and the EAEU.

The Department of Exports and Imports, MoIT, said about 938 enterprizes are shipping products to the EAEU.

Hence, the cooperation with EAEU would open up “golden” opportunities for Vietnamese key exports and also bring about challenges for enterprises.

At the recent session of the Vietnam-Belarus Inter-Governmental Committee on Economic-Trade and Scientific-Technological Cooperation in Hanoi, Belarusian Deputy PM Vladimir Semashko was optimistic about the development of the bilateral ties. Especially, the effective FTA between Vietnam and the EAEU facilitated respective enterprises to boost trade and investment.

Vietnamese Minister of Industry and Trade Tran Tuan Anh assessed that the document set a turning point of Vietnam in the process of international integration. According to Minister Anh, the two countries would continue to shake hands in trade, investment, industry, transport, education, and training in an effort to elevate the bilateral ties to a new height.

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