CU might deepen ties with ASEAN via free trade zone with Vietnam

           The Customs Union might be able to expand cooperation with ASEAN via the free trade zone with Vietnam, EEC Minister for Trade Andrei Slepnev told reporters. Andrei Slepnev commented on the third round of talks on establishing the free trade zone with Vietnam. “This round is proceeding well; the talks are combined with intensive bilateral contacts,” he noted. On the sidelines of the negotiations, Belarus-Vietnam intergovernmental commission held a session to discuss the details of joint projects. The EEC Minister for Trade noted that the Customs Union views the free trade zone agreement as one of the most important documents, but not the only component of a bigger project to advance to other ASEAN countries via Vietnam, which will give a powerful boost to integration. Apart from the provisions on trade and customs duties, the parties should discuss practical projects. These projects are to become a kind of beacons focusing on specific cooperation areas. On the other hand, they should secure a balance of interests for the Customs Union and Vietnam. “Vietnam trades in traditional goods, while we offer more sophisticated merchandise, like mechanical engineering products and investment projects in the mining industry. We need more comprehensive solutions and approaches and we are working on it,” Andrei Slepnev said.