What is the Vietnam – Eurasian Economic Union Free Trade Agreement (VN–EAEU FTA)?
- Full name: Free Trade Agreement between Vietnam and the Eurasian Economic Union
- Abbreviation: VN–EAEU FTA (Vietnam – Eurasian Economic Union Free Trade Agreement)
- Members/Parties: Vietnam and the Eurasian Economic Union (EAEU), which consists of five member states: the Russian Federation, the Republic of Belarus, the Republic of Kazakhstan, the Republic of Armenia, and the Kyrgyz Republic.
- Date of Signing: May 29, 2015 (in Burabay, Kazakhstan) Date of Entry into Force: October 5, 2016
The Free Trade Agreement between Vietnam and the Eurasian Economic Union (VN–EAEU FTA) is a landmark agreement, being the first FTA signed by the EAEU with an external partner. Its negotiation officially commenced on March 28, 2013, concluding after eight rounds. This agreement was formed to achieve several key objectives:
- Expanding Export Markets: It provides Vietnam with preferential tariff advantages to access the vast EAEU market, comprising over 183 million people and a GDP of approximately USD 2.2 trillion, primarily driven by the Russian Federation. This is particularly beneficial for key Vietnamese export sectors like textiles, footwear, and agro–aquatic products.
- Strengthening Strategic Partnership: The FTA deepens Vietnam’s Comprehensive Strategic Partnership with Russia and enhances trade relations with other EAEU member states.
- Balancing Supply Sources: Vietnam, in turn, opens its market to about 90% of EAEU products, facilitating the import of strategic goods such as petroleum, steel, fertilisers, and machinery, which helps diversify supply sources and reduce input costs for Vietnamese industries.
What does the VN–EAEU FTA cover?
The VN–EAEU FTA is a comprehensive agreement structured into 15 main Chapters, complemented by several related Annexes. These chapters and annexes detail the commitments and provisions across various areas of trade and economic cooperation between Vietnam and the EAEU member states.
| Chapter | Chapter Title (Vietnamese) | Key Content |
|---|---|---|
| 1 | Legal Matters | General rules and provisions of the Agreement. |
| 2 | Trade in Goods | Elimination and reduction of tariffs on goods. |
| 3 | Rules of Origin | Criteria and procedures for certification of origin (C/O form EAV). |
| 4 | Trade Remedies | Rules on anti-dumping; countervailing; and safeguard measures. |
| 5 | Sanitary and Phytosanitary (SPS) Measures | Ensuring food safety and the protection of human; animal; and plant health. |
| 6 | Technical Barriers to Trade (TBT) | Reducing unnecessary technical barriers to trade. |
| 7 | Customs Cooperation and Trade Facilitation | Simplifying customs procedures; enhancing transparency and cooperation. |
| 8 | Trade in Services | Commitments to liberalize the service market. |
| 8 bis | Investment | Commitments to protect and facilitate investment. |
| 9 | Movement of Natural Persons | Regulations on the temporary movement of business persons. |
| 10 | Intellectual Property | Protection and enforcement of intellectual property rights (commitments not exceeding WTO level). |
| 11 | Competition | Rules on competition policy and control of subsidies. |
| 12 | Sustainable Development | Cooperation on environmental and labor issues (mainly cooperative in nature). |
| 13 | Institutional Provisions | Establishment of the Joint Committee under the VN–EAEU FTA. |
| 14 | Dispute Settlement | Mechanism for dispute settlement between the Parties. |
| 15 | Exceptions and Final Provisions | Exceptions and final implementation provisions. |
Where can I find official information and guidelines for the VN–EAEU FTA?
For businesses and individuals seeking official information and detailed guidelines regarding the VN–EAEU FTA, several authoritative sources are available. The full text of the Free Trade Agreement, along with all related Annexes such as tariff schedules and rules of origin, can be accessed directly on the Vietnam FTA Portal, managed by the Ministry of Industry and Trade (MOIT). You can find this by searching for ‘VN–EAEU FTA’ on the official MOIT website or Vietnam’s FTA Portal.
Implementation Guidelines and Legal Documents:
- Ministry of Industry and Trade (MOIT): Lead implementing agency. Circulars on rules of origin under the VN–EAEU FTA and procedures for issuing Certificate of Origin (C/O Form EAV).
- Ministry of Finance (General Department of Customs): Government Decrees on Vietnam’s preferential import tariff schedules for the implementation of the FTA.
- Information available on the official website of the General Department of Vietnam Customs.
- WTO and Integration Center – VCCI: Publishes handbooks, summaries, and analytical reports on the commitments, opportunities, and challenges of the FTA for the business community.
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