Politics

Deputy PM: Vietnam, Russia need to further boost economic ties

Vietnam and Russian should continue making greater efforts and creating favourable conditions for the comprehensive development of bilateral economic cooperation as the recent growth has not matched their potential and expectations, said Deputy Prime Minister Trinh Dinh Dung.
Deputy PM: Vietnam, Russia need to further boost economic ties ảnh 1Deputy Prime Minister Trinh Dinh Dung (R) meets with Leonid Ivanovich Kalashnikov, member of the Presidium – Secretary of the Central Committee of the Communist Party of the Russian Federation on March 12 (Photo: VNA)

Hanoi (VNA) – Vietnam and Russian should continue making greater efforts andcreating favourable conditions for the comprehensive development of bilateraleconomic cooperation as the recent growth has not matched their potential andexpectations, said Deputy Prime Minister Trinh Dinh Dung.

DeputyPM Dung made the suggestion at a reception in Hanoi on March 12 for LeonidIvanovich Kalashnikov, member of the Presidium – Secretary of the CentralCommittee of the Communist Party of the Russian Federation, who is on a workingvisit to Vietnam.

TheDeputy PM affirmed that Vietnam has always been grateful to the former SovietUnion and the current Russian Federation for its assistance during the paststruggle for national independence and construction as well as the presentcause of industrialisation and modernisation.

Thetwo nations have established comprehensive strategic partnership and reapedgreat achievements in cooperative relations, thereby contributing remarkably tonational construction and development, he said.

DeputyPM Dung stressed that cooperation within the framework of the Vietnam-RussiaInter-governmental Committee has developed strongly in many fields, especiallyin the spheres of economy, trade, investment and energy.

Sincethe Vietnam-Eurasian Economic Union Free Trade Agreement took effect on October5, 2016, two-way trade between Vietnam and Russia has been growing rapidly,reaching 3.56 billion USD in 2017, up 29 percent over the previous year, henoted.

TheDeputy PM went on to say that Russia has to date registered to invest almost982.9 million USD in 117 projects in Vietnam, ranking 22nd among countries andterritories investing in the Southeast Asian country.

Meanwhile,Vietnam has poured investments in 18 projects in Russia with a combinedregistered capital of 2.4 billion USD, he added.

Kalashnikovpromised to spare no effort to develop relations between senior leaders of thetwo Parties and strengthen cooperative relations between the two nations,especially in the fields of economy, trade, investment, culture, education andpeople-to-people exchanges.

Atthe meeting, the two officials also discussed a range of measures to furtherenhance bilateral cooperation in the automobile, banking and tourism industries.-VNA
VNA
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