Deputy Prime Minister Trinh Dinh Dung (R) receives Russian Ambassador to Vietnam Konstantin Vnukov (Photo: VNA)

Hanoi (VNA) – The implementation of the free trade agreement between Vietnam and the Eurasian Economic Union will open opportunities to raise bilateral trade to 10 billion USD by 2020, Deputy Prime Minister Trinh Dinh Dung told Russian Ambassador to Vietnam Konstantin Vnukov on April 10.

Trade between Vietnam and Russia has risen recently, hitting 2.7 billion USD in 2016, an increase of 23 percent over 2015, and 452 million USD in the first two months of the year.

Dung said Vietnam wants to maintain the positive growth in bilateral cooperation, especially in economics and trade, defence, military techniques and is ready to facilitate Russian participation in new co-operation projects in energy and infrastructure development in Vietnam.

During their talks in Hanoi, the two sides also discussed cooperation projects in agriculture and energy.

Deputy Prime Minister Trinh Dinh Dung and Irish Ambassador to Vietnam Cait Moran (Photo: VNA)

Also on the same day, Dung received Irish Ambassador to Vietnam Cait Moran, noting that Ireland-funded development co-operation projects are bearing fruits, contributing to Vietnam's development.

At present, Vietnam is the only Asian country among nine partners entitled to receive Irish development aid. The country has provided Vietnam about 130 million EUR (137 million USD) worth of non-refundable assistance.

The two countries have witnessed rapid growth in bilateral trade recently, reaching 1.14 billion USD in 2016, a three-fold increase from 2015.

During their meeting, the two sides discussed fields of common interest for enhanced cooperation.

On the occasion, Ambassador Moran said Ireland would release a national strategy on development cooperation with Vietnam for 2017-20.-VNA