The Eurasian Economic Commission and Vietnam have said that the joint research group in charge of examining the possibility and advisability of signing a treaty on a free trade zone between member states of the Customs Union and Vietnam have successfully finished working, the Commission’s press service told BelTA.

The joint research group has concluded that there is a substantial potential for the development of trade and economic relations between the Customs Union and Vietnam if a free trade zone is created, reads a joint statement released for mass media by Andrei Slepnev, Trade Minister, member of the Eurasian Economic Commission Board, and Vietnamese Industry and Trade Minister Vu Huy Hoang. The step will allow advancing the long-time fruitful mutually beneficial cooperation between the countries to a new level.

The joint research group has finished working and now the sides can start negotiating the treaty. The sides have said they intend to start the talks in Q1 2013 after the heads of state complete the necessary intrastate procedures and representatives of the sides acquire the relevant mandates to carry out the talks.

The statement released for mass media reads that the negotiations will be tightly intertwined with the implementation of joint bilateral projects. The sides will start working on those projects in parallel. The sides pointed out the many years of advanced cooperation between the countries in various areas and their adherence to comprehensive promotion of trade and cooperation in the Asian-Pacific Region. The sides have expressed confidence that the treaty will enhance the roles of the sides as strategic partners.


 

Belta