15th October 2014, Skopje – Deputy Minister of Finance Ardian Xheladini and the Non-Resident Vietnamese Ambassador Extraordinary and Plenipotentiary Le Duc Luu signed today the Agreement on Double Taxation Avoidance between Macedonia and Vietnam, Agreement on Prevention of Fiscal Evasion and Agreement on Mutual Promotion and Protection of Investments.
By signing these Agreements, Macedonia has expanded the network of concluded bilateral agreements on double taxation avoidance, thus enhancing the economic relations and bilateral cooperation with Vietnam. These Agreements will provide for free flow of people, capital, income and services in both countries, and they will also promote the mutual investments.
The signing of the Agreements is expected to also have positive effects on the trade between Macedonia and Vietnam, not being sufficiently developed, amounting to EUR 13.9 million in 2013. Macedonia mainly exports tobacco to Vietnam and it imports telephones, coffee, footwear and synthetic fibers.