On May 29, 2015, the Free Trade Agreement (FTA) between Vietnam and EAEU was officially signed in Kazakhstan. At the press conference on May 29, 2025 on the 10th anniversary of the signing of the Agreement, the Russian Ambassador to Vietnam Gennady Stepanovich Bezdetko emphasized that the 2015 FTA signing was a breakthrough milestone, when Vietnam became the first country to sign a free trade agreement with EAEU (including Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan).
After 8 negotiation rounds lasting from March 2013 to December 2014, the final document was completed with the full participation of the members. This document took effect from October 5, 2016, opening a new chapter in economic and trade cooperation between Vietnam and EAEU.
The Russian ambassador stressed: "Despite the impact of the COVID-19 pandemic and sanctions, trade turnover between the parties is still growing significantly." According to statistics from the Asian Economic Commission, over the past 10 years, trade between Vietnam and Armenia has increased 61 times, with Belarus increasing 1.34 times, Kazakhstan increasing 4.2 times, Kyrgyzstan increasing 14.5 times and Russia increasing 1.3 times.
For Russia, Vietnam's largest trading partner in EAEU, bilateral turnover in 2024 will reach 4.6 billion USD, an increase of more than 25% compared to 2023. In the first quarter of 2025, this figure continued to surpass the 1.1 billion USD mark.
Key areas of cooperation between EAEU and Vietnam today include: Food hygiene and safety management, investment, transportation and logistics, environmental protection, as well as research and development of optimal mutual payment mechanisms. The two sides are also implementing the construction of an electronic system to serve the certification and verification of goods' origin, and are preparing to sign a Protocol on electronic data exchange between Vietnam and EAEU.
One of the highlights is the implementation of production investment projects in Vietnam with the participation of EAEU enterprises. The Gaz-Thanh Thang joint venture model has put into operation an ASEAN-standard minibus assembly plant, opening up export opportunities to countries in the region. At the same time, TH True Milk Company has invested in a milk processing factory in Kaluga province (Russia).
Also at the 10th anniversary of the FTA signing between Vietnam and EAEU, Kazakhstan Ambassador Kanat Kobylandyuly Tumysh recalled the history of the formation of EAEU from the strategic vision of the first President Nursultan Nazarbayev in 1994. After 3 decades, EAEU has developed into a regional integrated enterprise with a market of more than 185 million people and a GDP in 2024 of 2,000 billion USD, up 4.4%.
The EAEU-Vietnam cooperation model is one of the important mechanisms in bilateral cooperation. A few weeks ago, Kazakhstan and Belarus officially became Vietnam's strategic partners. Ambassador Kazakh emphasized that the EAEU-Vietnamese cooperation model needs to be expanded both in institutions and practice. The Ambassador expected that when the Hai Phong - Hanoi - Lao Cai railway line connected to the Chinese railway network would be able to connect with Kazakhstan, the ability to form a trans -Asia railway will become more clear. Armenia can also participate in this network. The promotion of railway initiatives is expected to open a new development direction, creating a turning point for the flow of goods, investment and regional links.
The Kazakhstanese Ambassador also said that EAEU should continue to consider free trade and opening markets between members as a top priority, especially when the world economy is going through a period of instability.
