The Ambassadors of the EAEU member states stressed the importance of entering into force of the agreement, described the zeroing of customs duties, increase in exports from Vietnam to the EAEU and imports from EAEU to Vietnam, the Ministry of Foreign Affairs of Kazakhstan informed.
As a result of the launch of the agreement the Eurasian "five" gets privileged access to the capacious and promising market of Vietnam with a population of over 90 million people. Vietnam, in turn, will be able to promote their products in the common market of five countries on a preferential basis - Kazakhstan, Russia, Belarus, Kyrgyzstan and Armenia, with a combined gross domestic product of about 2.2 trillion dollars with a total almost 183 million consumers.
Ambassador of Kazakhstan Beketzhan Zhumakhanov emphasized the transport component of cooperation between the Eurasian Economic Union and Vietnam. He gave details of transit-transport potential of Kazakhstan, cargo transport through container transport opportunities of various routes, including through the Kazakhstani terminal in the sea port city of Lianyungang (China), which is connected with Kazakhstan by the railway lines and significantly reduces the time of delivery of goods by rail.
For reference: The Free Trade Agreement between the Eurasian Economic Union and the Socialist Republic of Vietnam was signed on 29 May 2015 in Burabai at the meeting of the EAEU governments and is the first preferential agreement in the framework of the Eurasian Economic Union.
According to expert estimates, the savings on fees for exporters of the Eurasian Economic Union could be around 40 million dollars in the first year of the agreement. At the end of the transitional periods the positive effects of the abolition of customs duties is expected to reach 55-60 million dollars annually.
Source: https://strategy2050.kz
Key words: EAEU countries, gained access, Vietnamese, market.
