The establishment of a free trade zone between Vietnam and the Eurasian Economic Union (EAEU) will increase the two sides’ two-way trade from US$4 billion at present to US$8-10 billion in the years to come, an official has commented.
Visiting Deputy Prime Minister Vuong Dinh Hue and host Prime Minister of the Republic of Korea Lee Nak-yeon on June 21 agreed to try to lift two-way trade to 100 billion USD by 2020 from 65 billion USD in 2018, together with reducing Vietnam’s trade deficit.
Two-way trade between Laos and Vietnam exceeded 1 billion USD in 2018, up 13 percent annually and surpassing the set target, according to the Lao Laophatthana newspaper.
Prime Minister Nguyen Xuan Phuc has urged Germany, especially Rheinland-Pflaz state, to further boost trade and investment with Vietnam to further lift two-way trade.
The Vietnamese Government has taken multiple measures to facilitate the operation of foreign investors, including those from Germany, Deputy Prime Minister Trinh Dinh Dung affirmed during his visit to the European country from September 22-26.