31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Aug 18, 2022 / 21:18

Vietnam seeks revision of EAEU FTA to boost trade with Kazakhstan

Since the launch of the EAEU in 2016, bilateral trade turnover has been on a steady rise and reached $630 million in 2021, nearly tripled that of in 2016.

Vietnam seeks cooperation with Kazakhstan in revising the Vietnam-Eurasian Economic Union (EAEU) Free Trade Agreement, which comprises Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan) to facilitate bilateral trade and investment cooperation.

 Prime Minister Pham Minh Chinh and Kazakhstan’s Deputy Prime Minister and Foreign Minister Mukhtar Tileuberdi. Source: VGP

Prime Minister Pham Minh Chinh stressed the view during a meeting with Kazakhstan’s Deputy Prime Minister and Foreign Minister Mukhtar Tileuberdi today, as the latter is currently on a visit to Vietnam from August 17-18.

According to Chinh, Vietnam prioritizes its long-standing relations with Kazakhstan, welcoming the significance of Mukhtar’s visit at a time when both are celebrating the 30th anniversary of diplomatic relations (1992-2022).

Chinh hailed the strong progress in Vietnam-Kazakhstan’s relations over the last three decades and expected both to continue the exchange of high-ranking delegations and support each other on multilateral platforms, especially in the UN, or the Conference on Interaction and Confidence Building Measures in Asia (CICA).

Since the launch of the EAEU in 2016, bilateral trade turnover has been on a steady rise and reached $630 million in 2021, nearly triple the figure in 2016.

Chinh requested Kazakhstan to create favorable conditions for Vietnam’s key export products, such as farm produce, seafood, garment, and wooden products.

To deepen the bilateral partnership, Chinh called for the two sides to promote the role of the Inter-governmental Committee on economy-trade and science-technology; negotiate to sign a treaty to waive visas for citizens, and launch direct flight and railway routes between the two countries.

For his part, Mukhtar said Kazakhstan expects to bolster its traditional friendship and multi-faceted relations with Vietnam, especially in economy, trade, and investment.

He pointed to the huge potential in the partnership, especially in agriculture, tourism, transport, finance, and green energy.

Mukhtar sent the invitation of Kazakhstan's Prime Minister to Chinh to visit Kazakhstan at an appropriate time.