The recent conclusion of the free trade agreement (FTA) between Vietnamand the Eurasian Economic Union (EAEU), encompassing Russia, Belarus,Kazakhstan, Armenia and Kyrgyzstan, brings both political and economicbenefits for the involved parties.

The remark wasmade by Professor Evgeny Kanaev at the ASEAN Centre of MGIMO University –one of the most prestigious educational institutions in Russia foryoung people with international interests – as quoted by Sputniknews.com

The Professor said cooperation between Russia andVietnam has become more sustainable and the bilateral comprehensivestrategic partnership facilitates the expansion of all-around economiclinks with other ASEAN member states.

He added thatVietnam has proved itself to be an active member of multilateralcooperation in the regional and international arena.

The Association of Southeast Asian Nations, of which Vietnam is animportant member, is striving to become the 4 th biggest economicregion in the world and enhance its influence on global political andeconomic progress, he said.

The signing of the tradepact enables Vietnam to balance external and trade relations withforeign partners and is a significant move towards strengthening ASEANcommon policies and increasing the country’s position in the associationand beyond, he noted.-VNA