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Russia and Vietnam will sign an agreement on the creation of a free trade zone
An international scientific conference on the theme "Comprehensive economic cooperation between Russia and Vietnam in new conditions" was held in Hanoi, the press service of the Ministry of Economic Development reports. The event was organized by the University of Foreign Trade of Vietnam and the Trade Mission of Russia in Vietnam.
The conference was attended by leaders of the Vladivostok State University of Economics and Service of Russia, the Institute of European Studies at the Academy of Social Sciences of Vietnam, representatives of government structures of the economic bloc, employees of the diplomatic corps, Russian and Vietnamese businessmen.
The participants of the event discussed the prospects of Russian-Vietnamese trade and investment cooperation in the context of the participation of Russia and Vietnam in the WTO and the dialogue between the countries of the Customs Union - Belarus, Kazakhstan, Russia and Vietnam on the creation of a free trade zone (FTA).
Among the most important areas that will be relevant in the near future, investment cooperation is determined using the mechanism of the Russian-Vietnamese High-Level Working Group on Priority Investment Projects, the liberalization of mutual trade in goods and investment flows, the expansion of interaction between financial and banking institutions of the two countries, the activation of the resource small and medium business.
The main event in the Russian-Vietnamese economic relations in the near future will be the signing of an FTA agreement, which should remove a number of barriers in mutual trade, facilitate the entry of national exporters to the markets of the countries participating in the agreement, reduce the pressure of price competition in comparison with the countries of the region.