World Economy

Vietnam, CU to Sign FTA

Vietnam, CU to Sign FTAVietnam, CU to Sign FTA

The Customs Union (Russia, Belarus and Kazakhstan) and Vietnam have finalized discussions on draft agreement on free trade and may sign the document in early 2015, Russia’s trade representation told Itar Tass on Monday following the 8th round of consultations between the parties. “As technical aspects are cleared, the document will be ready for signing in early 2015,” the source said. The agreement, introducing zero import duty, will boost economic cooperation between Vietnam and the Customs Union. According to the United Nations Economic Commission for Europe (UNECE), the annual trade turnover by 2020 may approach $12b.