The recent conclusion of the free trade agreement (FTA) between Viet Nam and the Eurasia Economic Union (EAEU), comprising of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, is expected to bring great opportunities to Vietnamese businesses.

Two-way trade between Viet Nam and the EAEU is likely to hit around 10 billion USD in the years ahead.  Most notably, those Da Nang businesses involved in exporting textiles and garments, food and provisions, footwear, and seafood will be given the chance to expand their production activities and recover their traditional markets.

In addition, the Trans-Pacific Partnership (TPP) agreement on tariff exemptions between its 12 member nations is also expected to be signed soon.  This will bring even more opportunities to Vietnamese businesses, and those in Da Nang in particular.  Once it comes into effect, the country’s export turnover is predicted to increase dramatically in the following years.