Russia-Led Customs Union Focuses on Asia

Vietnam and the member states of the Customs Union (Russia, Belarus and Kazakhstan) completed a joint research group study Sept. 11 that offered a favorable assessment of the possibility of a free trade agreement between the two entities. Representatives of both sides said they intend to start negotiations on the agreement in the first quarter of 2013. The study comes on the heels of the Asia-Pacific Economic Cooperation summit, held Sept. 7-9 in Vladivostok, Russia, in which discussions of trade expansion between Russia and Asian countries dominated the agenda. 

As the Customs Union evolves toward the Eurasian Union, recent trade developments indicate that the existing members could be shifting their focus from expanding within the former Soviet Union to building economic ties with other regions, namely Asia. Given that Vietnam appears to be the furthest along in examining the prospects of such a free trade agreement, it will be an important country to watch to gauge how serious Russia is in its Asian trade expansion.