08:21 | 05/06/2016 Cooperation
(VEN) - The Vietnamese-Russian comprehensive strategic partnership stepped into new heights after the official visit of Vietnamese Prime Minister Nguyen Xuan Phuc to Russia on May 16-20. The event contributed to increasing political trust and deepening economic, trade and investment cooperation between the two countries.
Prime Minister Nguyen Xuan Phuc (second from the left) meets overseas Vietnamese in Russia
The official visit of Prime Minister Nguyen Xuan Phuc to Russia on May 16-20 and his participation in the ASEAN-Russia Summit to celebrate the 20th anniversary of the partnership between the two sides created strong impression. This was also the first visit of the new prime minister together with governmental leaders, underscoring the close relationship between the two countries.
Vietnamese Prime Minister Nguyen Xuan Phuc met his Russian counterpart Dmitry Medvedev, President Vladimir Putin and leaders of the two houses of the Russian parliament to discuss and agree about measures to promote cooperation in numerous fields, especially in trade, investment, energy, defense, education and training.
During the meeting with Russian Prime Minister Dmitry Medvedev, the two leaders agreed that the two countries needed to make greater efforts to improve bilateral trade. Russia and Vietnam will deploy a series of measures such as creating favorable conditions for businesses in export-import activities, strengthening trade promotion activities and promoting payment by domestic currency. In addition, making most of opportunities provided by the Eurasian Economic Union-Vietnam Free Trade Agreement is needed. In a context where the global economy and each nation have faced difficulties, the two countries need to support oil and gas joint venture companies to expand cooperation. The two prime ministers witnessed the signing ceremony of eight cooperation agreements between some ministries and economic groups in oil and gas, investment and staff training.
Vietnamese Prime Minister Nguyen Xuan Phuc joined in the ASEAN-Russia Summit to celebrate the 20th anniversary of the partnership between the two sides. Leaders discussed and agreed on solutions in order to put the relationship into practice.
Vietnam has become Russia’s only comprehensive strategic and largest trade partner in Southeast Asia. Bilateral trade between the two countries reached around US$2.2 billion in 2015. This figure totaled US$591 million in the first quarter of the year. In addition, Russia ranked 17th among the 101 countries and territories investing in Vietnam with total registered capital of more than US$2 billion.
Russian Ambassador to Vietnam Vnukov Konstantin Vasilievich said that Vietnamese businesses were encouraged to promote agricultural exports and investment in Russia.