03/06/2017 05:29 GMT+7 Email Print Like 0

Workshop highlights VN-Russia comprehensive strategic partnership

The workshop mentioned successful cooperation areas between Vietnam and Russia over the past time, especially the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and the Southeast Asian country and its impact on the development of bilateral relations. 

Prof. PhD. G.Toloraya, Director of the Asian Strategy Centre, said at the time of signing the FTA with the EAEU, Vietnam already had remarkable experience from its engagement in the ASEAN Free Trade Area (AFTA). 

The participation in the AFTA has helped Vietnam increase trade with leading countries in East Asia such as China, Japan, and the Republic of Korea, he said. 

Other reasons that Vietnam was selected as a partner of the EAEU are its political stability and crucial role in connecting Russia with other ASEAN member nations. 

Vietnam recorded a sustainable economic growth of 5-6 percent in 2010-2015 and foreign currency reserves of up to 38 billion USD as well as attracted regular foreign direct investment flows, he cited, noting that these macro-economic index helped reduce risks in Vietnam’s economy and create a favourable environment for Vietnam to join the FTA with the EAEU. 

Participants suggested training personnel who know both Russian and Vietnamese and improving legal consultation for businesses.