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RF intends to create free trade zone with Vietnam – Medvedev

Russia and Vietnam will start negotiations on establishment of a free trade zone in 2013

HANOI, November 7 (Itar-Tass) — Russia intends to exchange goods and services with Vietnam while creating a free trade zone, Russian Prime Minister Dmitry Medvedev said.

The talks on creating the free trade zone with Vietnam will start on January 1, 2013, Medvedev told journalists on Wednesday.

The prime minister recalled that the creation of free trade zones were very important because this ensured free movement of trade flows and the receipt of new goods. “The creation of such zone has its special aspects. We discuss this within the Customs Union – Vietnam format,” Medvedev said.

“We have paid attention to economic cooperation in the framework of a free trade zone, agreement on establishment of the zone and development of relations between the Customs Union and Vietnam,” he said.

He recalled that Vietnam would be able to build trade relations with three countries on equal conditions.

Medvedev added that the intensive development of trade relations would benefit both parties. As of today trade turnover between the two countries has only reached three billion U.S. dollars. The task is to increase it up to seven billion U.S. dollars. “As compared with trade with other countries, these are rather modest figures. We will be able to trade much more,” the Russian prime minister said.

“On trade regimes, I want to say all is not so easy. We should do our best to ensure free exchanges of goods and services,” Medvedev stressed.

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