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Armenia to export wine to Vietnam with zero customs duty
Armenia will be able to export wine to Vietnam with zero customs duty in the future. First Deputy Minister of International Economic Integration and Reforms Suren Karayan said that the agreement on free trade zone signed between Vietnam and the Eurasian Economic Union (EAEU) was a good opportunity for Armenia to export its products to that country with zero customs duty.
Generally, Vietnam imposes high customs duties on imports as a result of which it becomes difficult to enter the market. Now Armenia has a good possibility to export some goods with zero customs duty. Now changes are intended to be made according to which EAEU member countries will export wine to Vietnam with zero customs duty. This means that Armenia is provided with a good opportunity to export wine of own production to Vietnam with preferential conditions, Karayan said.
Deputy Minister also spoke about Iran’s possible membership to the EAEU. He noted that the EAEU was forming a working group to negotiate with Iran over the free trade zone agreement.
Preliminary negotiations are to be held over the free trade zone agreement. And generally Iran's membership to the EAEU will have big significance for us. Iran also imposes high customs duties on imports and if those customs duties are eliminated, the possibilities of our country in terms of exporting goods of own production to Iran will expand, Karayan added.
The Eurasian Economic Union and Vietnam signed a free trade agreement on May 29, 2015. The signed agreement includes liberalization of customs duty rates for trade between the EEU and Vietnam at the expense of reduction or elimination of customs duties for products referred to in the agreement. Iran is also interested in close cooperation with the Eurasian Economic Union.