Trade Liberalization within the Eurasian Economic Union (the Case of the EAEU-Vietnam Agreement)

Abstract

The countries of the Eurasian Economic Union (further - EAEU) make great efforts to develop the export of goods and to become part of regional and global production chains. Free-trade agreements are the most effective tool, which enables the expansion and simplification of access to foreign markets for domestic producers. The EAEU has made use of the right to make a global free-trade agreement (further - the Agreement) for the first time, and Vietnam has been chosen to be such a state. The article examines the innovative ideas, incorporated in the agreement; obligations ofthe EAEU countries are compared to the ones arising from the WTO membership of several EAEU countries. These are questions of trade liberalization, a wide range of aspects, connected with intellectual property, compensatory and anti-dumping measures, tariff and non-tariff barriers, technical, sanitary and phytosanitary regulation, economic advantages of the agreement for the EAEU countries, mutual obligations regarding reduction or zeroing of customs tariff rates.