Vietnam ready to act as bridge to connect EAEU, ASEAN: official
Vietnam, as an active ASEAN member and the first nation to sign a free trade agreement with the Eurasian Economic Union (EAEU), is willing to work as a bridge to help the EAEU and Russia to expand trade and investment ties with the ASEAN, a Vietnamese trade official said.
An overview of the EAEU-ASEAN Business Dialogue (Photo: VNA)
St. Petersburg (VNA) -Vietnam, as an active ASEAN member and the first nation to sign a free tradeagreement with the Eurasian Economic Union (EAEU), is willing to work as abridge to help the EAEU and Russia to expand trade and investment ties with theASEAN, a Vietnamese trade official said.
Deputy Minister of Industry andTrade Hoang Quoc Vuong made the statement at the EAEU-ASEAN Business Dialoguewhich was held on June 8 as part of the Saint Petersburg International EconomicForum (SPIEF) running from June 6-8.
In his speech, Vuong briefedparticipants on the history and development of the Association of SoutheastAsian Nations (ASEAN) Community, Vietnam’s role in the bloc, and relationsbetween Vietnam and the EAEU as well as between the ASEAN and EAEU.
He said the EAEU-Vietnam FTA hasenabled Vietnam and the ASEAN nations to approach the EAEU market, which groupsfive countries with a combined GDP of 2.2 trillion USD.
Since the pact took effect in2016, trade between Vietnam and the EAEU grew 103 percent to hit nearly 6.1billion USD in 2018.
Sharing a traditionalrelationship, Vietnam and Russia have been trustworthy partners that have supportedeach other in boosting international economic integration and improving positionsin multilateral and regional forums, Vuong said.
At the dialogue, delegatespraised Vietnam’s improved role and position in the region, particularly itspioneer role in strengthening relations between the ASEAN and EAEU. They hopedto learn from Vietnam’s experience in the matter.
Discussions at the dialoguefocused on advantages and opportunities of the EAEU in attracting investmentfrom the ASEAN member nations, prospects and potential for cooperation betweenthe two sides, as well as challenges facing their business and trade ties.-VNA
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An overview of the EAEU-ASEAN Business Dialogue (Photo: VNA) 
