OREANDA-NEWS. December 05, 2012. Vietnam offers Ukraine to begin negotiations on establishing a free trade area between the two countries in January 2013.

This was announced by vice Prime Minister of the Socialist Republic of Vietnam Hoang Trung Hai at the meeting with Ukraine's Prime Minister Mykola Azarov on Monday in Kyiv.

"We propose to begin concrete negotiations on the establishing a Free Trade Area in January 2013. We believe that this agreement will give impetus to enhance our trade and economic relations", vice Prime Minister of Vietnam said.

He stressed that the Vietnamese side is also interested in the speedy signing of the agreement on mutual protection of investments and implementation of agreements on plant quarantine, cooperation with Ukraine in the sphere of defence, especially in the modernization of military equipment, including aircraft AN-26 of Vietnamese Air Force.

Hoang Trung Hai said that Vietnam highly appreciates Ukraine's experience in building nuclear power plants and PSH, in particular, now Ukrainian Institute develops project documentation for the construction of the first nuclear power plant in Vietnam. "Ukrainian Institute is developing the project documentation for construction of the first nuclear power plant in Vietnam. We appreciate the experience and skill level of the Institute", he said.

By-turn Mykola Azarov supported the initiative on early conclusion of negotiations on the FTA with Vietnam and on the agreement on mutual protection of investments.

"I agree with you that is extremely important to complete negotiations on a Free Trade Area and sign an agreement on mutual protection of investments", said the head of the Ukrainian Government.

As reported, during an official visit to Vietnam on 15-16 November 2012 Mykola Azarov said that Ukraine and Vietnam intensify negotiations on a free trade area (FTA) and reciprocal protection of investments. But he did not rule out that the FTA will be signed during the year.