The Armenian National Assembly discusses the free trade agreement between the Eurasian Economic Union and Vietnam. Keynote speaker, Deputy Economy Minister of Armenia Garegin Melkonyan informed that the agreement was signed in May 2015 and is defines a free trade regime between the EAEU member states and the Socialist Republic of Vietnam. “The agreement is quite large. It consists of 15 chapters, over 200 articles, extractions and protocols. A liberalized trade is to be established”, Melkonyan said.
The Deputy Minister clarified that agreement refers only to goods produced in the territories of the parties. “This means that the reduction of customs duties applies only the goods that have been produced in the EAEU member states or Vietnam”, he said.
The Deputy Minister noted that there are three groups of goods regulated by the agreement. For 59% of the goods elimination of custom duties is expected, for 29% of goods a transitional period that can last until 2025-2027 is defined, while 12% of the goods will not be exempted from custom duties in the future.
Source : https://armenpress.am
Keyword : Free trade agreement, between Vietnam and EAEU, discussed, at Armenian parliament.
