Vietnam Shuns US, Joins Russia-Led Economic Union

Submitted by Tyler Durden on 04/08/2015 19:35 -0400

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With many of the world's nations drawing closer to the China-led AIIB, and The Greeks in Moscow today, the news that Vietnam has agreed all of the principle aspects in creating a free trade zone between the countries of the Russia-led Eurasian Economic Union, will likely come as yet another blow to Washington.

As Sputnik News reports,

During the first day of Dmitry Medvedev's visit to Vietnam, the Russian and Vietnamese sides have signed several agreements on energy cooperation.

“Almost all of the parameters have been agreed, and the preparation of documents have reached the final stage," Medvedev said after negotiations in Vietnam's capital of Hanoi.

Medvedev stated that a contract will soon be signed between Moscow and Hanoi.

"I hope that we will soon move on to signing the agreement," Medvedev added.

Hanoi plans to sign an agreement with the Eurasian Economic Union on a free trade zone by the middle of this year, Vietnamese Prime Minister Nguy?n T?n D?ng said.

“Our goods turnover has dropped a bit lately and in order to improve the situation, we decided to instruct our ministers, businessmen, and organs from both sides to take measures on signing an agreement soon on a free trade zone between Vietnam and the Eurasian Economic Union in the first half of 2015,” D?ng said in a joint statement with Russian Prime Minister Dmitry Medvedev.

D?ng added that Vietnam is striving to increase its goods turnover with Russia to $10 billion by 2020.

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“We are continuing our cooperation in nuclear energy and have discussed the current situation of business,” Medvedev said after negotiations in Vietnam’s capital of Hanoi.

Medvedev added that an overall framework agreement would soon be signed.

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