(VOVworld) – Kyrgyzstan’s parliament adopted a free trade agreement on Wednesday between members of the Eurasian Economic Commission (EAEC) and Vietnam.

Tuna processing for exports. (Photo: VNA)

According to Kyrgyzstan’s government, the agreement will create favorable conditions for exports to the Vietnamese market thanks to reduced import tariffs from 10% to 1% by 2025.

The same day, the Belarusian lower house also approved the FTA with Vietnam, under which duties of about 60% on commodities will be slashed. By 2025 about 90% of commodities will be exempted from tariffs.

Belarus’ committee for international relations said the FTA will boost trade and economic cooperation between the two nations and diversify Belarus’ exports to Vietnam and later on to other ASEAN countries.

The EAEC and Vietnam signed an FTA last May in Kazakhstan which promotes trade between EAEC members and Vietnam by reducing or eliminating the majority of import duties.