A conference took place in Moscow in order to discuss the outlook of the Eurasian Economic Union (EAEU) along with the role of both Vietnam and Belarus in the expansion of the Asia-Europe development space.

At the conference (Photo: VNA)

Upon addressing the event, Alexander Makhlaev, president of the “Asia-Europe House” Association, highlighted the role of traditional Vietnamese values in the country’s development.

Most notably, political stability has paved the way for Vietnamese economic development, he added.

Meanwhile, Natalya Ivanova, an expert from AV Group, stated the significance of the international business environment in the integration process of each country.

Furthermore, Ivanova asserted that the EAEU serves to create fresh motivation, especially in the strengthening of co-operation among members, as well as with partners, including Vietnam.

According to Grigory Trofimchuk, chairman of the Council of Experts of the Eurasian Research Fund, the country has dynamic potential for development and is a member of many integration mechanisms and international organisations. Indeed, it is currently striving to speed up the integration process.

Moreover, the nation became the first partner to sign a free trade agreement with the EAEU in 2015, he noted, adding that the union should focus more on partnership with the country as it can be viewed as a door to the world.

The official therefore applauded the dynamism of Vietnamese firms operating in Russia, as well as other markets globally. However, Trofimchuk said that the nation and the EAEU have yet to fully optimise each other's advantages and potential, while a number of trade barriers continue to exist between the two sides.

In line with this, both sides should discuss the need to maintain trade defence measures in an effort to increase trade in the future, adding the EAEU should show its advantages as the novel coronavirus (COVID-19) pandemic develops worldwide, he said.  

Within the conference’s framework, Trofimchuk introduced his book entitled “Vietnam wings up”, expressing his hope that the book will serve to allow both Vietnam and Russia to grow closer together in terms of the economy, trade, and humanity.