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Nov 28, 2015 / 09:17

Seeking investment opportunities between Vietnam and Eurasian Economic Union

The Vietnam Chamber of Commerce and Industry organised a Vietnam - Eurasian Economic Union business forum in Hanoi on November 25 to help the two sides’ businesses study the markets and seek investment opportunities.

The Eurasian Economic Union (EEU) includes Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan which are Vietnam’s traditional trading partners. 
Trade between Vietnam and the EEU saw the growth rate of about 5-6% yearly, reaching 4.2 billion USD in 2014. The figure remains modest as compared to their great potential and demands for further trade ties. 
The Vietnam Chamber of Commerce and Industry said, businesses from the EEU, especially those from Russia, have strength in manufacturing and export of machinery, industrial equipment and chemicals, energy facility construction and mining.
Meanwhile, the Southeast Asian nation boats huge potential in farm produce, garments-textiles and household electronics. 
Vietnam and the EEU can support and supplement each other in goods imports and exports.

 
At the forum
At the forum
According to economists, the signing of a free trade agreement (FTA) by the two sides has created favourable conditions for their businesses to increase import-export and investment activities in the coming time. Economists stated that through Vietnam, Russian enterprises can integrate into the ASEAN market more easily.
During the forum, a representative from Russia’s Ministry of Economic Cooperation stressed the great potential for cooperation between Vietnam and Russia, and adding the collaboration is bound to advance in the coming time thanks to their Governments’ incentives.