15:22 | 06/04/2015 Cooperation
Viet Nam and Russia set up diplomatic ties in 1950 and upgraded the bilateral ties to Comprehensive Strategic Partnership in 2001. The milestone laid a firm foundation for the relationship and multilateral cooperation between the two nations.
In term of politics, the two nations exchanged high-ranking delegations frequently to strengthen the relations, notably official visits to Russia by Party General Secretary Nguyen Phu Trong (in November 2014) and by PM Nguyen Tan Dung and National Assembly Chairman Nguyen Sinh Hung (in 2013) and Russian President V. Putin’s courtesy visit to Viet Nam in November 2013.
The two sides set up the annual Viet Nam-Russia Strategic Dialogue on Diplomacy-Defense-Security.
Their two-way trade hit US$2.55 billion in 2014 and US$191 million in the first two months of 2015. It is expected to rocket when a Free Trade Agreement between Viet Nam and the Customs Union of Russia, Belarus and Kazakhstanis is signed this year.
Russia has poured nearly US$2 billion in 106 projects, ranking 17th among 101 nations and territories investing in Viet Nam.
Viet Nam increased investment in Russia from US$100 million in 2008 to US$2.47 billion in 19 projects at present, mainly focusing on such areas as oil and gas and trade.
In term of culture and training, the two nations have organized Cultural Days in Viet Nam and Russia.
Russia is one of the potential markets for Viet Nam’s tourism. The number of Russian visitors to Viet Nam increased from 176,000 in 2012 to 364,000 in 2014.
Currently, more than 5,000 Vietnamese students are studying in Russia. The two countries agreed to establish Viet Nam-Russia University of Technology.
Since 1991, more than 100 cooperative documents were inked across economics, trade, investment, oil and gas, nuclear electricity, education and training, culture, science and technology.
Russian PM Dmitri Medvedev’s official visit to Viet Nam from April 5-7 is expected to create more cooperative opportunities for both sides to strengthen their Comprehensive Strategic Partnership