(VOV) – A seminar was held in in Moscow on October 26 to examine opportunities and challenges Vietnamese businesses face after Russia joins the World Trade Organization.
The Vietnamese embassy’s trade counselor Pham Quang Niem spoke of advantages and disadvantages of Russia’s WTO admission as well as its impact on Vietnam-Russia economic and trade cooperative relations and Vietnamese business operations in Russia.
He also briefed participants on the process of free trade agreement (FTA) negotiations between Vietnam and the Customs Union of Russia, Uzbekistan and Belarus.
He said Russia’s WTO membership and the FTA will offer Vietnamese businesses plenty of opportunity to penetrate a large, lucrative market of nearly 170 million consumers and with an average income per capita of US$16,137.
Delegates also discussed issues relating to tax, quotas, Russia’s binding interests, trade protection, outlets for products, investment, source of goods and market trends.
Compared to WTO commitments, Vietnam-Customs Union FTA members will enjoy more preferences, including substantial tax, facilitating Vietnamese exports to Russia and other Customs Union members.
The FTA is expected to be signed in late 2014 or early 2015.
Đăng ký: VietNam News
