The article analyzes results of work of the free trade zone between the Eurasian Economic Union and Vietnam, which began to formally functionin October 2016. The problem is considered in the context of conditions of this free trade agreement and key trends of Russian-Vietnamese relations. The signing of the agreement became possible mostly because of high level of Russian-Vietnamese political relations and the course of Vietnam for multilateral foreign policy. The agreement plays important political role in Russian-Vietnamese relations and helped to raise the trade turnover between Vietnam and the EAEU member-states, but it couldn’t change some problems for Russia in trade with Vietnam (for instance, negative balance for Russia in the trade turnover with Vietnam and decrease of share of industrial goods in Russian export to Vietnam).