The recent conclusion of the free trade agreement (FTA) between Viet Nam and the Eurasian Economic Union (EAEU), encompassing Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, brings both political and economic benefits for the involved parties.

Processing seafood for exports at Trung Son seafood company (Photo: VNA)

The remark was made by Professor Evgeny Kanaev at the ASEAN Centre of MGIMO University – one of the most prestigious educational institutions in Russia for young people with international interests – as quoted by Sputniknews.com

The Professor said cooperation between Russia and Viet Nam has become more sustainable and the bilateral comprehensive strategic partnership facilitates the expansion of all-around economic links with other ASEAN member states.

He added that Viet Nam has proved itself to be an active member of multilateral cooperation in the regional and international arena.

The Association of Southeast Asian Nations, of which Viet Nam is an important member, is striving to become the 4th biggest economic region in the world and enhance its influence on global political and economic progress, he said.

The signing of the trade pact enables Viet Nam to balance external and trade relations with foreign partners and is a significant move towards strengthening ASEAN common policies and increasing the country’s position in the association and beyond, he noted.

(Source: VNA)