Vietnam and the Customs Union of Russia, Kazakhstan and Belarus have
completed the feasibility study of a free trade agreement, paving the way for
formal negotiations to start.
Vietnamese Minister of Industry
and Trade Vu Huy Hoang and Deputy Minister of Economic
Development of the Russian
Federation A.A. Slepnev on September 10 signed the Proceedings on the impact
of the Free Trade Agreement (FTA) between Vietnam and the Tariff Alliance
(Russia, Belarus and Kazakhstan).
A number of conducted research
has shown remarkable potential in the economic relations between the countries
in the Tariff Alliance and Vietnam when the FTA comes into effect.
Accordingly, FTA negotiations
between Vietnam and the Tariff Alliance will start in the first quarter of
2013.
Both sides said they are aware
that the FTA must conform to international norms, including regulations of the
World Trade Organisation, and that negotiations will be conducted alongside the
implementation of their projects.
All the nations concerned are
aware of the comprehensive long-term cooperation in trade, economics and
investment and commit to the facilitation of trade and cooperation in the
Asia-Pacific.
KTD
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