According to VCCI-HCMC, Vietnam-EAU (Eurasian Union) free trade agreement has taken effect with tax incentives permitting Vietnamese and Belarusian businesses to increase export volume to each other’s market.
Vietnam has mainly exported cell phones and parts, garment and textile, leather and footwear, farm produce and seafood to Belarus while Belarus has exported industrial products such as machines, equipment, transport means and auto parts to Vietnam.
The two sides have made efforts to implement solutions to further balance the bilateral trade and obtain the target of US$500 million trade turnover in the upcoming time.
Belarus has invested in only one project in the northern province of Hung Yen with registered capital reaching US$16.2 million, ranking 73rd out of 128 nations and territories investing in Vietnam.
Belarus plans to implement some other projects including dairy and bus assembly plants in Vietnam.