Russian Deputy Minister of Economic Development Alexei Likhachev said economic and trade cooperation between Russia and Vietnam is growing dynamically.

The Russian news agency Itar-Tass quoted Likhachev as saying on August 30 that two-way trade between Vietnam and Russia hit 3 billion USD last year and 1.7 billion USD in the first half of this year, which according to him, is yet to match the two countries’ potentials.

The deputy minister, who paid a visit to Vietnam recently, added that Russian President Vladimir Putin and President Truong Tan Sang had set a target of bringing two-way trade to 10-12 billion USD a year.

In order to fulfill the target, Likhachev suggested the two sides further expand comprehensive cooperation, firstly in the fields of energy, natural resources, and automobile and aircraft manufacturing.

The negotiations on establishing a free trade area between Vietnam and Customs Alliance members, including Russia, Belarus and Kazakhstan, will contribute to further promoting Vietnam – Russia economic and trade cooperation in both quantity and quality, the deputy minister said.-VNA