Promoting strong cooperation between Vietnam and the Eurasian Economic Union (EAEU)

NDO - On October 24, on the occasion of attending the BRICS Leaders' Meeting in Kazan, Russian Federation, Prime Minister Pham Minh Chinh received Chairman of the Eurasian Economic Union (EAEU) Bakytzhan Sagintayev.

Prime Minister Pham Minh Chinh affirmed that Vietnam highly appreciates the role of the Eurasian Economic Council in promoting the effective implementation of commitments of the Vietnam-Eurasian Economic Union (EAEU) Free Trade Agreement in recent times.

The Prime Minister emphasized that after nearly 10 years of implementation, the Vietnam-EAEU FTA has contributed to creating a solid cooperation framework, deepening the relationship between Vietnam and EAEU member countries, bringing many practical benefits to both sides.

EAEU Chairman Bakytzhan Sagintayev sent his congratulations to President Luong Cuong on his election to the new position.

Mr. Bakytzhan Sagintayev affirmed that the FTA has positively contributed to trade growth between the parties; was pleased to witness the growth of two-way trade turnover, from 1.8 billion USD in 2021 to 6.8 billion USD in 2023; expressed confidence that with the positive results achieved, cooperation between the two sides will continue to develop strongly in the coming time.

Prime Minister Pham Minh Chinh met with Chairman of the Eurasian Economic Union (EAEU) Bakytzhan Sagintayev. (Photo: Nhat Bac/VGP)

The two sides agreed to continue to effectively implement the Vietnam-EAEU Free Trade Agreement, meeting the cooperation needs and economic potential of Vietnam and the EAEU. The two sides agreed to continue to open the market, promptly remove obstacles and trade barriers, and resolve difficulties related to payment mechanisms, transportation and movement between people and businesses.

Prime Minister Pham Minh Chinh suggested that the EAEU study forms of developing supply chains, maritime transport, railways, logistics... to promote the exchange of goods between Vietnam and the Central Asia region and each EAEU member country.

The Prime Minister also proposed that EAEU member countries consider removing threshold safeguard measures and raising quotas on a number of Vietnamese goods.

Prime Minister Pham Minh Chinh said that the two sides need to strengthen cooperation in the spirit of harmonious benefits, shared risks, and more effectively utilize room to create breakthroughs in economic and trade relations.

On this occasion, the Prime Minister respectfully invited the President of the EAEU to visit Vietnam. Mr. Bakytzhan Sagintayev happily accepted the invitation.

Source: https://nhandan.vn/thuc-day-hop-tac-manh-me-giua-viet-nam-voi-lien-minh-kinh-te-a-au-eaeu-post838468.html