09:29 | 29/06/2017 Events
President Tran Dai Quang arrived in Moscow in the afternoon of June 28, starting his four-day official visit to Russia at the invitation of Russian President Vladimir Putin.
A welcome ceremony for the State leader was held at Vnucovo-2 airport, which was attended by Russian Deputy Foreign Minister Igor Morgulov, Russian Ambassador to Vietnam Konstantin Vnukov, and Vietnamese Ambassador to Russia Nguyen Thanh Son, among others.
President Tran Dai Quang’s entourage includes Deputy Prime Minister and Foreign Minister Pham Binh Minh, Secretary of the Hanoi Party Committee Hoang Trung Hai, Minister of Finance Dinh Tien Dung, Minister of Planning and Investment Nguyen Chi Dung, Minister of Industry and Trade Tran Tuan Anh, Minister of Education Phung Xuan Nha, and Minister of Information and Communications Truong Minh Tuan.
Vietnam and Russia have enjoyed a growing relationship over the past years with the two sides recognising on another’s market economy in 2017.
Their economic and trade connections have also seen significant development. Oil and gas cooperation projects are being implemented in both countries and bilateral trade is growing, reaching US$2.7 billion in 2016, up 25% from 2015. In the first five months of 2017 the figure hit US$1.37 billion. The expansion of the partnership in auto assembly and production also shows promise.
A free trade agreement between Vietnam and the Eurasian Economic Union, of which Russia is a member, was signed in 2015 and took effect on October 5, 2016.
Russia currently ranks 23rd among 116 countries and territories investing in Vietnam. Vietnam’s investment in Russia has also increased from US$100 million in 2008 to US$2.4 billion currently, mostly in oil and gas, trade and agriculture.
Affiliation in defence-security, science-technology, education-training and culture-tourism has also been enhanced. Cultural exchanges have been held regularly.
Russia is one of the 10 biggest sources of foreign tourists to Vietnam. More than 430,000 Russian tourists came to Vietnam in 2016, up 12.8% year on year.
More than 5,000 Vietnamese students are studying in Russia.
Since 1991, the two sides have signed over 100 cooperation documents in all fields, including in economy, trade, investment, oil and gas, nuclear power, education and training, culture, science and technology, and defence.