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Related Keywords: benefits from number of tax incentives, big companies of Armenia, considering production and business cooperation, distribution networks in Russia and the EU, EAEU, Eurasian Economic Union, first country to sign a free trade agreement, includes Armenia, textiles and garment industry of Armenia, Vietnam, Vinatex seeks investment opportunities

Vietnam is the first country to sign a free trade agreement with the Eurasian Economic Union (EAEU) that includes Armenia. Vietnam National Textile and Garment Group (Vinatex) is considering production and business cooperation with big companies of Armenia that have already had distribution networks in Russia and the EU. The country has also benefited from a number of tax incentives thanks to free trade agreements when its products enter the Russian or EU markets.

Related Keywords: advantages of trade agreements, EAEU, Eurasian Economic Union, first quarter, negotiation with other countries, observing good results, promising signs from new import markets, rapid growth from new markets, see growth in second quarter of this year, Vietnam Textile and Garment Group, Vietnam textile and garment sector, VN textile sector

The Vietnam textile and garment sector after observing good results in the first quarter due to rapid growth from new markets such as Eurasian Economic Union (EAEU), which saw a growth rate of 115% in Russia; and the Asian Economic Community (AEC) with growth of 17%, 11%, 38%, 24.5%, 36% and 5% from Thailand, Indonesia, Singapore, Laos, Cambodia and Myanmar, respectively, enters the second quarter (Q2) of this year with promising signs from new import markets, said General Director of the Vietnam Textile and Garment Group (Vinatex) Le Tien Truong.

Related Keywords: cost competitive, Eurasian Economic Union, FTA with EEU, Indian product, signed between Indian and EEU, Tirupur knitwear exporters, window to Russian apparel market

A joint statement, as a prologue to the FTA with the Eurasian Economic Union (EEU) comprising Russia, Kazakhstan and Belarus had been signed between India and EEU at St. Petersburg in Russia few days back.

It viewed the establishment of a joint study group to work out the formalities including the finalization of the sectors that would be part of the FTA.

This decision to sign the Free Trade Agreement with the Eurasian Economic Union (EEU) is seen by the Tirupur knitwear exporters as a window to access the huge Russia apparel market.