Kazakhstan has ratified a free trade agreement between the Eurasian Economic Union’s member states and Vietnam. The agreement is intended to create favorable conditions for mutual trade and investment. It provides for duty-free trade regime between the EAEU countries and Vietnam. At the same time, a transitional period for cancelling import customs duties is set for some product types. Some sensitive products have been withdrawn from the free trade regime and duties will be imposed on them in accordance with the sides’ import tariffs.

The agreement gives the parties the right to use special protective, antidumping and countervailing measures in accordance with WTO rules. It also provides the use of a protective mechanism in the form of customs duty at the level of the EAEU common customs tariff, which will protect sensitive EAEU textile products and furniture if the limit of the annual volume of imports from Vietnam is exceeded.

The Eurasian Economic Union is an international organization for regional economic integration. It has international legal personality and is established by the Treaty on the Eurasian Economic Union. The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the treaty and international agreements within the union.

Members of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.