Vietnam and EEU edge closer to free trade deal

Russian and Vietnam PMs Dmitry Medvedev and Nguyen Tan Dung

Russian and Vietnam PMs Dmitry Medvedev and Nguyen Tan Dung

Vietnam and EEU: The newly formed Eurasian Economic Union and Vietnam are close to agreeing a free trade deal Russia’s Prime Minister Dmitry Medvedev told journalists during the course of an official two -day trip to Hanoi. He also predicted that Russia’s annual trade with Vietnam could increase fourfold to $10 billion over the next five years, and confirmed that the two sides had agreed to expand oil and gas exploration in the South China Sea where Vietnam is embroiled with China. Vietnam ‘s willingness to reach out to Russia – and to historical enemies such as the US and Japan, is an attempt to counterbalance China’s growing influence in the region.