Vietnam, Russia seek to boost economic cooperation

14:40 | 16/03/2017 Cooperation

A high-level Russian delegation led by Deputy Prime Minister Yuri Petrovich Trutnev visited Vietnam to seek an expansion of economic cooperation with Vietnam on March 14-15.

Deputy PM Trinh Dinh Dung (R) shakes hands with Deputy Prime Minister Yuri Petrovich Trutnev - (Photo: VGP)

The delegation was welcomed by Deputy Prime Minister Trinh Dinh Dung, who welcomed the results of the delegation’s working sessions with Vietnamese ministries, especially a meeting with big enterprises to introduce the potential, assets and investment attraction incentives in Russia’s Far East region on March 14.

Deputy PM Dung highlighted the development of the traditional friendship and comprehensive strategic partnership between Vietnam and Russia as well as political ties with frequent exchanges of high-level delegations.

He affirmed Vietnam treasures and gives priority to its multifaceted cooperation with Russia, and that the Vietnamese Government always supports and assists the two countries’ localities in setting up ties and boosting cooperation in the fields the two sides need and have strength in.

However, he said, Vietnam-Russia cooperation on the economy, trade and investment is still moderate and does not meet each side’s potential.

He suggested taking appropriate measures to boost bilateral cooperation in promising areas.

According to the Deputy PM, the two sides need to increase information on cooperation potential and preferential policies for enterprises, as well as facilitate businesses in visiting each other to have direct surveys on markets.

Deputy PM Yuri Petrovich Trutnev agreed that economic cooperation has been below expectations as two-way trade only stands at US$ 3.8 billion, requiring greater efforts to achieve the goal of US$20 billion by 2020.

He said Russia is giving priority to the development of the Far East region and has issued numerous incentive policies.

The Deputy PM called on Vietnamese companies to invest in the Far East region, adding many enterprises from Japan, the Republic of Korea and China are operating efficiently there.