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Free Trade Agreement Russia Vietnam
Vietnamese Foreign Minister Anh Dung said he wants bilateral trade between Vietnam and Russia to reach the $10 billion mark next year, with increasing positive results, after Vietnam concluded a free trade agreement (FTA) with the Russian-led Eurasian Economic Union (EEU) in 2016. The creation of a Vietnamese subsidiary allows Russian companies to access each of these markets, subject to local controls on content. The country also has free trade and economic transformation zones that can allow additional production on imported Russian and ASEAN components, without customs duties and VAT (VAT), making Vietnam an attractive option for Russian companies that want to sell products in Asia.