Regarding political aspect, the signing of the FTA asserts the active role of Viet Nam in its comprehensive cooperative relations with the EEU members, especially Russia.

Viet Nam has become the first nation in the world to the FTA with the EEU, which is expected to help the EEU expand the trade and investment with other nations in the Southeast Asia.

In economic terms, the agreement will help businesses to reduce input costs and promote exports, thus contributing to increasing budget revenues, creating more jobs for locals and making the economy more dynamic.

Vietnamese businesses will enjoy a good chance to expand export markets as the EEU will eliminate tariffs imposed on some Viet Nam’s key export items such as garment, footwear, agriculture, aquatic products and electronics.

In addition, Viet Nam hopes to attract more investment from the EEU in fields of mineral exploitation and processing, energy, manufacturing and chemical substances and acquire knowledge and advanced technologies in service of the country’s industrialization and modernization process.

The FTA is regarded as the breakthrough in the economic relations between Viet Nam and the EEU, benefiting both sides. It will also offer opportunities for Viet Nam to enhance trade and investment ties with other nations in the Commonwealth of Independent States as many of them expect to join the Union./.

By Thuy Dung