The Free Trade Agreement signed between Vietnam and the Eurasian Economic Union (EAEU) has resulted in Russia announcing US$10 billion worth of deals with Vietnam. The EAEU is a trade bloc between Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, and has a GDP of US$2.2 trillion.
Russian President Vladimir Putin has announced that Russia and Vietnam have agreed on more than 20 high-profile joint investment programs, following a bilateral meeting with Vietnamese counterpart Tran Dai Quang in Moscow.
Relations between Moscow and Hanoi have been developing as the latter is one of the biggest consumers of Russian military equipment. Vietnam signed a free trade agreement with the Eurasian Economic Union (EAEU) on May 29, 2015. Bilateral trade between Vietnam and the EAEU is expected to rise to US$30 billion by 2030 from a previous base of close to zero.
Vietnam is the first country to have negotiated a free trade agreement with the EAEU, and consequently, has the benefit of early bird status in both attracting investment from Russia in particular, and in exporting products to the EAEU. The EAEU bloc is strategically important as Belarus borders the European Union and goods entering the EAEU can easily be transported to EU markets. This is expected to be further enhanced as China, India, and Singapore are also all known to be negotiating free trade deals with the EAEU.
Assisting Foreign Investors into Russia
Dezan Shira & Associates´ Russian investment brochure offers an overview of the services provided by the firm – both foreign investment into Russia and Russian investment into Asia. It is Dezan Shira´s mission to guide investors through Russia´s complex regulatory environment and assist with all aspects of establishing, maintaining and growing business operations in the region.
An Introduction to Doing Business in Vietnam 2017
An Introduction to Doing Business in Vietnam 2017 will provide readers with an overview of the fundamentals of investing and conducting business in Vietnam. Compiled by Dezan Shira & Associates, a specialist foreign direct investment practice, this guide explains the basics of company establishment, annual compliance, taxation, human resources, payroll, and social insurance in this dynamic country.
Import & Export in Vietnam: Key Industries & Free Trade Agreements
In this issue of Vietnam Briefing magazine, we discuss the key aspects of Vietnam’s import and export landscape, focusing on textiles, telephones and computer products. We then analyze opportunities for Vietnam among its inclusion in multilateral regional trade blocs, before examining the European Union-Vietnam Free Trade Agreement.