According to reports, the Ministry of Industry and Trade of Vietnam’s Ministry of European Markets stated that Vietnam had recently negotiated with Russia and Belarus on Vietnam’s automobile assembly project. The three parties have signed two cooperation protocols on joint automobile assembly, which stipulates that Russia, Belarus and Vietnam will A joint venture will be established to jointly produce trucks and other special vehicles. The cooperation protocol will be part of the cooperation between the Eurasian Economic Union and the Vietnam Free Trade Agreement. Russia’s Kamaz, Gorky Automobile Factory, Ural Automobile Factory and Belarusian Minsk Automotive Plant (Mas) expressed interest in the project.
According to the tripartite agreement, Russia and Belarus will be able to export a certain amount of vehicles to Vietnam in order to test the consumption potential of the Vietnamese market. In addition, Russian and Belarusian automobile spare parts will be exempted from foreign export tariffs, and at the same time, the localization rate of auto parts should be increased to 35% and 45% respectively before 2020 and 2026.
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