Eurasian Economic Union - Vietnam free trade deal takes effectOctober 5, 2016 - 17:14 AMT PanARMENIAN.Net - A free trade agreement between the Eurasian Economic Union (EEU) and Vietnam is taking effect on Wednesday, October 5. The deal opens the EEU's market of 181 million to Vietnam, RT reports. The EEU member states – Armenia, Russia, Belarus, Kazakhstan and Kyrgyzstan – get the opportunity to sell goods in Vietnam on a preferential basis. The free trade deal covers more than 90 percent of all goods traded between the EEU and Vietnam. It will enable the EEU exporters to save about $40-60 million in the first year. Vietnamese companies can expect savings of up to $5-$10 million a year. Under the deal, Hanoi expects to significantly boost its foreign trade. Trade with Russia is expected to double to some $10 billion by 2020. "Specific conditions will be created for Russia in order to increase the supply of its products to the Vietnamese market. It concerns not only high value products, but also agricultural produce, consumer goods to name a few," said the Russian Trade Mission in Vietnam. Russia’s main exports to Vietnam include nuclear reactors, mineral fuels, oil and distillation products and fertilizers. Electrical machinery, boilers and knitwear are imported from Vietnam. Top stories Six total incidents have burned 19 old-growth trees. Friday night 8 trees were torched along the beautiful main entrance. The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. Hikmet Hajiyev has said that there is no place for USAID operation in Azerbaijan any longer. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. Partner news | Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |