The free trade agreement (FTA) signed between Viet Nam and the Eurasian Economic Union (EAEU) marks Viet Nam’s deepened integration into the international market, the Euro Presse Image recently highlighted.

Prime Minister Nguyen Tan Dung (front, right) signs the FTA with the EAEU leaders. Russian PM Dmitry Medvedev is on the left (Photo: VNA)

The FTA is the first deal the EAEU, including Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has inked with a third side, according to the Euro Presse Image.

The trade deal will help the EAEU expand trade and investment ties with Southeast Asia and the Asia-Pacific region, the article cited Viktor Khristenko, Chairman of the Board of the Eurasia Economic Commission.

Meanwhile, Viet Nam, an ASEAN member, will serve as a bridge linking the EAEU and the ASEAN, assisting the union in extending its affiliation with the ASEAN Community, a 600 million-strong market with a GDP of 2.5 trillion USD.

In return, Viet Nam will be able to access the 175 million-resident market with a GDP of 1.5 trillion USD.

Two-way trade is forecast to expand 18-20% each year to 10-12 billion USD in 2020, from 4 billion USD in 2014.

(Source: VNA)