VN, Russia head to trade turnover of US$10 bln by 2020

09:11 | 07/04/2015 Trade

PM Nguyen Tan Dung and his Russian counterpart Dmitry Medvedev agreed to promote the Comprehensive Strategic Partnership in terms of economics, investment, oil and gas, nuclear electricity and military technology and head to a two-way trade value of US$10 billion by 2020.

VN, Russia head to trade turnover of US$10 bln by 2020

At their talks on April 6, PM Dung highlighted the meaning of the visit when Viet Nam and Russia are celebrating the 65th anniversary of diplomatic ties, hoping that the visit will create forces to further foster the Comprehensive Strategic Partnership.

The two leaders kept each other informed of their respective political, economic, social and diplomatic performances, and exchanged views on bilateral issues and matters of international and regional concerns.

They agreed to maintain and strengthen high-ranking delegation exchanges as well as closely cooperate at international forums.

They urged the two nations’ ministries, agencies and localities to seek suitable solutions to accelerating the signing of the Viet Nam-Customs Union Free Trade Agreement in 2015, striving to reach a two-way trade turnover of US$10 billion by 2020.

The two sides proposed the banking systems accept payments with their national currency and the joint working group provide the list on prioritized projects to enhance bilateral trade.

The two PMs highly valued the two nations’ active cooperation in oil and gas, nuclear electricity, exploitation and agriculture as well as consented to enhance cooperation in energy, including oil and gas projects in Viet Nam and Russia and the construction of Ninh Thuận 1 Nuclear Power Plant.

PM Dung and his Russian counterpart lauded the cooperation in national defense and security, especially in terms of military technology and training and agreed to expand bilateral relations in science-technology, education-training, culture, and step up advertising their tourism potentials to deepen the two nations’ relationship.

They also exchanged and assented to the settlement of disputes in the East Sea with peaceful measures based on international law, including the United Nations Convention on the Law of the Sea 1982, the Declaration on the Conduct of Parties in the East Sea (DOC) and soon working towards a Code of Conduct of Parties in the East Sea (COC).

PM Dung thanked the Russian authorities for facilitating overseas Vietnamese in Russia, expecting that the Vietnamese community will bring into full play their role as a bright for the two countries’ developed relations.

The Russian PM invited PM Nguyen Tan Dung to pay an official visit to Russia and PM Dung accepted with pleasure.

After the talks, the two PMs witnessed the signing of some crucial documents in fields of energy, investment, banking, healthcare and transport./.

Source VGP