Russian Deputy Prime Minister Igor Shuvalov said the
creation of a free trade zone between the states of the Eurasian Customs Union
and Vietnam is on schedule with a contract expected in January 2015.
17:53 06/09/2014
MOSCOW, September 6 (RIA Novosti) - The creation of a
free trade zone between the states of the Eurasian Customs Union and Vietnam is
on schedule with a contract expected in January 2015, in addition to national
currency settlements, Russian Deputy Prime Minister Igor Shuvalov told
reporters at a meeting of the Russian- Vietnamese intergovernmental commission
on Saturday.
"We discussed the creation of a free trade zone
between the states of the Customs Union and Vietnam, and recognized that
everything is going according to schedule. From the first of January 2015 the
Eurasian Economic Union will be realized, the relevant agreement will be signed
on behalf of the Union," said Shuvalov.
In late August, the head of the Ministry of Economic
Development of the Russian Federation Alexei Ulyukayev said that Russia plans
to sign an agreement on the establishment of a free trade zone with Vietnam by
2015. According to Shuvalov, Russia and Vietnam both aim to increase the volume
of trade to $7 billion by 2015.
The Eurasian Customs Union is also known as the Customs Union of Belarus,
Kazakhstan, and Russia.
"The task was to develop proposals in three weeks
on how to trade in the national currency, and how to do it more
effectively," Shuvalov explained.
During the meeting, Vietnam and Russia discussed the
problems concerning trade growth and decided a mechanism for calculating in
national currency was a necessary solution. The commission also decided to
establish a working group consisting of representatives of the ministries of
finance and central banks, according to Shuvalov.
The 17th session of the Russian-Vietnamese
intergovernmental commission opened on Saturday in Vladivostok.
The previous 16th session was held in October 2013 in
Hanoi during which 17 cooperative agreements were signed. The total trade
turnover between Russia and Vietnam in 2013 amounted to $3.9 billion, up 8.5
percent from the same period in 2012
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