On August 31 in Bishkek, Bakytzhan Sagintayev, Chairman of the Eurasian Economic Commission's Board, held a working meeting with Vo Thi Anh Xuan, Vice President of the Socialist Republic of Vietnam, on the sidelines of the Shanghai Cooperation Organization Summit.
The parties discussed the current state and prospects of cooperation between the Eurasian Economic Union member states and Vietnam within the framework of the Free Trade Agreement.
Bakytzhan Sagintayev highlighted Vietnam’s special role in developing the EAEU’s foreign trade ties in Asia Pacific. In 2015, Vietnam became the first country with which the Eurasian “five” concluded a trade agreement.
This made it possible to increase trade turnover between the EAEU and Vietnam from USD 4.3 billion in 2016 to USD 8.3 billion in 2025, an increase of more than 90%.
Inhancing transport connectivity between the Union States and Vietnam remains an equally important task. There is interest in working to improve logistics, insurance processes and settlement mechanisms.“We see significant opportunities to expand cooperation in digital transformation, artificial intelligence, e-commerce, technology and the development of platform solutions,” the Head of the EEC Board stated.
Following the meeting, Bakytzhan Sagintayev and Vo Thi Anh Xuan expressed confidence in further efficient development of trade and economic dialogue between the parties.
The Free Trade Agreement between the Eurasian Economic Union and its Member States, on the one part, and Vietnam, on the other part, was signed on May 29, 2015 and entered into force on October 5, 2016.
