Vietnam-EAEU free trade agreement to take effect on October 5

The Vietnam-Eurasia Economic Union Free Trade Agreement will take effect on October 5, 2016, according to an announcement released by the Ministry of Industry and Trade.

The Vietnam-Eurasia Economic Union Free Trade Agreement (VN-EAEU FTA) will take effect on October 5, 2016, according to an announcement released by the Ministry of Industry and Trade (MoIT).

At the signing of the Vietnam-EAEU FTA in Kazakhstan last May.

According to the MoIT’s Europe Market Department, the VN-EAEU FTA, which features Vietnam, Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan, was initiated from March, 2013 and after eight official rounds of negotiations and many mid-term meetings, the agreement was signed on May 29, 2015.

The Vietnam Ministry of Foreign Affairs has recently issued a statement announcing that the two sides have completed procedures and the agreement will take effect from October 5, 2016.

After the VN-EAEU FTA takes effect, the two sides will establish a joint committee, a committee on goods trade, and a subcommittee on origin regulations for the effective implementation and supervision of the agreement.