Participation of the Ambassador of the Republic of Armenia to the Socialist Republic of Viet Nam Vahram Kazhoyan in the 5th Session of the Joint Committee on the Implementation of Viet Nam - EAEU Free Trade Agreement.

13 November, 2023

The 5th Session of the Joint Committee on the Implementation of Viet Nam-EAEU Free Trade Agreement took place on November 13, 2023, in a hybrid format at the Ministry of Industry and Trade of Viet Nam, co-chaired by Nguyen Hong Dien, Minister of Industry and Trade of Viet Nam and Andrey Slepnev, Minister of Trade of the EAEU.

Vahram Kazhoyan, Ambassador of the Republic of Armenia to the Socialist Republic of Viet Nam, Gennady Bezdetko, Ambassador of the Russian Federation, Vladimir Borovikov, Ambassador of the Republic of Belarus, and Tumish Kanat, Ambassador of the Republic of Kazakhstan, as well as high-level representatives of the Ministries of Foreign Affairs, Finance, Agriculture and Rural Development, Natural Resources and Environment, Healthcare, Transport, Planning and Investment, Industry and Trade, the Government staff and other relevant Departments, economic-commercial attachés of diplomatic missions of the EAEU member states accredited in Viet Nam, attended the 5th Session of the Joint Committee on the Implementation of Viet Nam - EAEU Free Trade Agreement.

According to Eurasian Economic Union data, trade between Viet Nam and Eurasian Economic Union member-states has increased from $5.9 billion in 2017 to $7.8 billion in 2021. In the trade with the Eurasian Economic Union, The Russian Federation remains the largest partner, accounting for 66% of total exports from the Eurasian Economic Union to Viet Nam and 97% of imports from the Eurasian Economic Union to Viet Nam.

Despite the decline in all indicators recorded in 2021 during COVID-19, the growth was registered in 2022, with exports from Viet Nam to Eurasian Economic Union member states reaching to 1.8 billion USD, and imports from the Eurasian Economic Union to Viet Nam to 1.4 billion USD.

The two sides positively noted the progress achieved in the implementation of priority investment projects between the EAEU member states and Viet Nam and agreed to promote support to businesses, to solve all the problems faced by the businessmen of these countries.

In the framework of the discussions held during the session, Ambassador of Armenia presented the position of Armenia regarding Viet Nam - EAEU free trade agreement and recommendations of the Republic of Armenia for the implementation of a number of issues. Ambassador Kazhoyan particularly emphasized the issue of providing preferential approach for the import of the Armenian alcoholic production into Viet Nam. Despite the fact that Armenian brandy is sold in the Vietnamese market and has a big demand, it is still expensive, due to the high taxes. Therefore, its import regulations into Viet Nam within the framework of the Viet Nam - EAEU free trade agreement will contribute not only to the promotion of cooperation between the two countries in the trade and economic sphere, but also to the significant increase of the overall trade turnover volumes.

A number of agreements were reached, namely, the two Parties should start studying possibility of amending and upgrading the free trade agreement between Viet Nam and the EAEU, continue opening their markets, eliminating trade barriers, and making efforts to eliminate barriers to payments, transportation and movement of people between two countries, especially difficulties for businessmen.

As for the issue of visa exemption, the session co-chairman Mr. Nguyen Hong Dien recommended that the Eurasian Economic Union countries continue to consider the issue of visa exemption for Vietnamese citizens at the same level as Viet Nam provides to friendly countries.

Regarding the latter, Ambassador Kazhoyan noted that the Armenian side not only has already facilitated the visa regime with Viet Nam, but moreover, the Armenian Government has approved the signing of an Agreement between the Government of the Republic of Armenia and the Government of the Socialist Republic of Viet Nam on the mutual abolition of the visa requirement for holders of ordinary passports. The Armenian Embassy is currently waiting for the response of the Ministry of Foreign Affairs of Viet Nam.

The participants of the 5th session of the joint committee on the implementation of the Viet Nam-EAEU free trade agreed to continue their discussions.

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