Vietnam and EEU edge closer to free trade deal

Russian and Vietnam PMs Dmitry Medvedev and Nguyen Tan Dung

Vietnam and EEU: The newly formed Eurasian Economic Union and  Vietnam are close to agreeing a free trade deal Russia’s Prime Minister Dmitry Medvedev told journalists during the course of an official two -day trip to Hanoi. He also predicted that Russia’s annual trade with Vietnam could increase fourfold to $10 billion over the next five years, and confirmed that the two sides had agreed to expand oil and gas exploration in the  South China Sea where Vietnam is embroiled with China. Vietnam ‘s willingness to reach out to  Russia – and to historical  enemies such as the US and Japan, is an attempt to  counterbalance China’s growing influence in the region.