Russia attaches great importance to the need for both the free trade agreement (FTA) between Vietnam and the Russia-led Eurasian Economic Union (EEU), and its trade pact with the US-led Trans-Pacific Partnership (TPP), to conform to World Trade Organization (WTO) standards, Russian Prime Minister Dmitry Medvedev said Monday.
Hanoi signed the FTA with the EEU last May to remove major trade barriers between the respective markets and was one of 12 Pacific Rim signatories to the controversial TPP in February 2016.
"The only thing that I would like to draw your attention to is that it is very important for us that the rules that apply to our FTA – here we have no doubt at all – with Vietnam, and the Trans-Pacific Partnership on the other hand, comply with the rules of the WTO," Medvedev said.
The Russian prime minister’s Vietnamese counterpart, Nguyen Xuan Phuc, earlier expressed hope that the FTA with the EEU would take effect as soon as next month.
The EEU, comprising Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan, is an international organization that encourages regional economic integration through the free movement of goods, services, and people within the union.
Source: http://sputniknews.com
Keyword : Russia, Wants Trade Agreements, With Vietnam, to Conform to, WTO Standards.
