Vietnamese Ambassador to Russia Ngo Duc Manh (Source: VNA)

Hanoi (VNA)
- Vietnam and Russia need to actively seek new, highly feasible cooperation methods, which are beneficial to both sides, in a bid to create breakthroughs in bilateral relations, said Vietnamese Ambassador to Russia Ngo Duc Manh.

During a recent interview granted to the press ahead of the 30th Diplomatic Conference slated for August 12-17 in Hanoi, the ambassador highlighted the fruitful development in the Vietnam-Russia relationship over the last 68 years.

Vietnam and Russia established diplomatic relations in 1950 and decided to elevate the relationship to strategic partnership in 2001 and then to comprehensive strategic partnership 11 years later.

The bilateral cooperation between the two countries has been tested over time, becoming a valuable asset of the Vietnamese and Russia people, with many great achievements in all areas, Manh said.

Vietnam-Russia political ties with a high level of trust have been enhanced through the regular exchange of delegations and bilateral meetings at all levels, and via the mechanism of consultation and strategic dialogue.

The two nations have always cooperated and supported each other in multilateral forums such as the United Nations, the Asia-Pacific Economic Cooperation (APEC) forum, the Asia-Europe Meeting (ASEM), the ASEAN - Russia cooperation mechanism.

Vietnamese President Tran Dai Quang’s official visit to Russia in June 2017, and Russian President Vladimir Putin’s attendance at the APEC Economic Leaders Meeting in Vietnam’s central Da Nang city in November 2017 created new impetus to effectively promote and deepen the comprehensive strategic partnership, Manh stressed.

Vietnam-Russia economic, trade and investment ties have enjoyed dynamic development, he said, noting that after the free trade agreement between Vietnam and the Eurasian Economic Union officially came into effect in October 2016, the trade value between the two countries has grown by over 30 percent a year.

In terms of investment, besides the cooperation in the field of oil and gas, as of June 2018, Russia has 117 direct investment projects in Vietnam with total registered capital of nearly 1 billion USD. Meanwhile, Vietnam is operating 22 investment projects worth nearly 3 billion USD in Russia.

Security and defence cooperation between the two nations has also witnessed practical and effective development, especially in personnel training and weapon-equipment transfer.

Vietnamese and Russian localities have also strengthened their collaboration in the recent time, focusing on the spheres of economy, trade and investment, culture, and education. Tourism and culture cooperation, and people-to-people exchanges have been also fostered, Manh said.

Regarding measures to fully tap the potential to further expand bilateral economic ties, the diplomat stressed that relevant agencies and enterprises of the two countries, including the embassy, have to make every effort to fulfill commitments made by their senior leaders, towards realising the 10-billion-USD target in two-way trade by 2020.

It is necessary to implement synchronously and effectively cooperation agreements signed between the two countries, and enhance the role of the intergovernmental committee; as well as the consultation and supervision of the two legislative bodies over the implementation, the ambassador said.

Administrative reform should be also promoted, thus facilitating Vietnamese and Russian enterprises’ travel and work in their respective territories, thus fostering economic ties between the two nations.

Manh, however, also mentioned obstacles hindering the Vietnam-Russia economic and trade cooperation, saying that there are no effective mechanisms to promote the potential and strength of each country.

Vietnamese businesses are facing difficulties in selling their goods in the Russian market because of certain barriers related to quarantine, Manh noted, adding that both countries’ firms do not have enough information about each other so they do not have adequate trust in trading. Trade promotion activities should be increased to solve these issues, he said.

The ambassador also highlighted the significance of the Vietnam Year in Russia and the Russia Year in Vietnam in 2019, saying that it will be a meaningful event to strengthen cooperative ties between the two countries.-VNA.