Vietnam-Eurasian Union Free Trade Zone Agreement Signed

• 05.25.2015, 09:11
•  EEU,  World

The statement released on May 25, 2015 by the Foreign Ministry of Russia informs that Russian Prime Minister Dmitry Medvedev had signed a free trade zone agreement between the Eurasian Economic Union (EEU) and Vietnam,

"The implementation of the agreement will contribute to an increase in the mutual trade turnover and the development of trade and economic relations between its participants, as well as help solve the problem of getting the EEU involved in the integration processes in the Asia-Pacific region," the statement reads.

Previously  Medvedev declared  that Moscow and Hanoi should consider using national currencies instead of US dollars in trade after agreeing in principle to establish a free trade zone. In his turn Vietnamese Prime Minister Nguyen Tan Dung noted  that Hanoi was planning to increase its trade turnover with Russia to $10 billion by 2020.