Bashkortostan ready to boost trade ties with Vietnam

Moscow (VNA) – The Republic of Bashkortostan is willing to discuss economic cooperation in every form with Vietnam, particularly in establishing joint ventures in farming, machinery manufacturing, oil processing and fertilizer production.

President of the Russian federal subject Rustem Makhitov made the statement during a recent meeting with Vietnamese Ambassador to Russia Nguyen Thanh Son.

Rustem Makhitov said his region plans to consolidate partnerships with Vietnamese localities, adding that the republic has completed a draft agreement on cooperation with Vietnam’s Vung Tau city, which is expected to be signed in early 2017.

Bilateral trade revenue between Bashkortostan and Vietnam stand at about 15 million USD, with exports from Bashkortostan to Vietnam making up the lion’s share of the sum.

Both sides should work to increase trade transactions and investments, said the President.

Agreeing with his host, Ambassador Son stressed all-out efforts are needed to improve two-way trade in the context of the free trade agreement between Vietnam and the Eurasian Economic Union taking effect.

He informed the President on Vietnam’s key exports, including farming produce, seafood and apparel, adding that the 19th session of the Vietnam-Russia Intergovernmental Committee this year has set out tasks of boosting collaboration at local level.

Earlier, the ambassador met with Bashkortostan Minister of Economic Development Sergei Novikov, with discussion focusing on solutions to boost Vietnamese imports to Bashkortostan – including tea, coffee and fisheries products.

During his stay, the Vietnamese diplomat also met Vietnamese expats in Ufa city and visited two local universities on petroleum technologies that have trained generations of Vietnamese personnel.-VNA