Economic cooperationof Belarus and Vietnam in the context of integration around the EAEU

The article analyzes the first results of the development of economic interaction between Vietnamand the Republic of Belarus in the framework of the Agreement on free trade between Vietnam and theEurasian Economic Union. The authors explore the dynamics and structure of mutual trade, other forms of economic cooperation. They found out that main export positions of the two countries are not competing, butrather complement each other and open the way to industrial cooperation. It forms potential for the growth inbilateral economic relations (car assembly plant of trucks MAZ on Belarusian-Vietnamese joint venture“MAZ Asia”, the processing of food products from the Belarusian raw milk).The article emphasizes core factors that affect deepening cooperation and increasing mutual trade between Vietnam and the Republic of Belarus within the Eurasian Economic Union, and main drivers for its reactivation. They are the low competitiveness of national economies on the world market; Russia's dominance as a trade and economic partner; new geopolitical situation; common historical past. The need to reduce the risk of high-country concentration of Belarusian exports, and the active implementation of the open-door policy by the Socialist Republic of Vietnam are highlighted.Based on econometric modeling particular attention is paid to assessing the foreign trade potential between Belarus and Vietnam in the framework of the Agreement due to forecasting Vietnamese exports to Belarus.The conclusion presents the prospects for the development of economic cooperation between the Republic ofBelarus and the Socialist Republic of Vietnam and overall integration processes within the EAEC.

Belarus, Vietnam, EAEU, free trading zone, international economic relations, economic integration, export