On 6 October 2016, the Eurasian Economic Commission announced that the Free Trade Agreement between the Eurasian Economic Union (EAEU) and its Member States and the Socialist Republic of Viet Nam entered into force on 5 October 2016. The EAEU consists of Armenia, Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation. According to the announcement, the Vietnamese government will eliminate 59% of duties on goods from EAEU members immediately and gradually reduce the rates on 29% of imported goods until they reach zero according to a schedule that varies from 5 to 10 years depending on the product involved. Vietnam will not reduce the duties on the remaining 12% of goods (generally those that the EAEU was not interested in). No figures were given for EAEU reductions in duty.
