Vietnam and Russia have agreed to raise bilateral trade from 1.83 billion USD in 2009 to 3 billion USD in 2012 and 10 billion USD in 2020.

The agreement was reached at the talks between State President Nguyen Minh Triet and his Russian counterpart Dmitry Medvedev following a State welcoming ceremony in Hanoi on Oct. 31.

Russian President Medvedev, who attended the second ASEAN-Russia Summit on Oct. 30 and 31, highly valued Vietnam ’s achievements in national construction and development and consolidating its position in the region and in the international arena.

President Triet highlighted Russia ’s great achievements in different fields and voiced his support for the Russian leaders’ policy of national modernisation and raising Russia ’s role and influence in the region and the world at large.

Both the host and guest expressed their delight at the development of the two countries’ traditional friendship, comprehensive cooperation and strategic partnership.

Political relations between Vietnam and Russia have developed through the regular exchange of visits by delegations at all levels, including President Nguyen Minh Triet’s attendance at the 65th anniversary of the Victory over Fascism in Moscow, Party General Secretary Nong Duc Manh’s visit to Russia and Russian President Dmitry Medvedev’s visit to Vietnam.

Both sides recognised outstanding progress recorded in bilateral trade and economic cooperation over recent years, particularly in oil and gas and atomic energy.

The two leaders highly valued effective cooperation in energy, expressing their pleasure at the signing of an inter-governmental cooperation agreement on building a nuclear power plant in Vietnam, Vietnam-Russia joint venture Rusvietpetro’s oil production at Russia’s Neneski oilfield and two-way trade rising from 1.83 billion USD in 2009 to 1.17 billion USD in the first eight months of the year.

Both leaders laid stress on enhancing long-term trustful military technology cooperation and expanding cooperation in education-training, culture, science-technology and other traditional fields.

The Russian President expressed his interest in Russia ’s involvement in Vietnam ’s infrastructure construction, railway modernisation, and ICT projects.

The two leaders recognised the contributions by Vietnamese citizens who are studying and working in Russia and Russian citizens who are studying and working in Vietnam to promoting the two countries’ traditional friendship and comprehensive cooperation.

President Triet thanked the Russian President and Government for creating favourable conditions for the Vietnamese community in Russia over the recent past and proposed Russia to continue assisting the Vietnamese community’s legal and permanent settlement.

The two sides reached consensus on regional and international issues and said they were happy at the success of the second ASEAN-Russia Summit, adding that the success would help enhance the ASEAN-Russia dialogue partnership.

Both sides expressed their belief that the fine results of the Russian President’s official visit to Vietnam would make important contributions to consolidating and boosting bilateral comprehensive cooperation and deepening the bilateral strategic partnership.

Russian President Medvedev invited his Vietnamese counterpart Nguyen Minh Triet to visit Russia . President Triet accepted the invitation with pleasure and the time of the visit would be arranged through the diplomatic channel.

After the talks, the two presidents witnessed the signing ceremony of documents, including the agreement between the two governments on building a nuclear power plant in Vietnam .

Also on the morning of Oct. 31, President Triet and his Russian counterpart Medvedev held a joint press briefing to inform the results of the talks.

President Triet emphasised the significance of the traditional friendship and strategic partnership between Vietnam and Russia for the two countries, saying that the relationship has been unceasingly consolidated and expanded in various fields.

Nuclear energy cooperation is the symbol of a specially trustful relationship between Vietnam and Russia , said President Triet.

Additionally, Vietsovpetro has reached a new oil and gas cooperation deal, he said, adding that Russia has pledged to facilitate oil and gas cooperation projects between the two sides in Russia , Vietnam and a third country.

On economics, trade and investment cooperation, President Triet said the two leaders discussed conditions to set up the Vietnam-Russia-Belarus-Kazakhstan free trade area towards raising the Vietnam-Russia trade value to 3 billion USD in 2012 and 10 billion USD in 2020.

The relationship between Russia and Vietnam is a durable relations which are based on trust and have withstood the test of time, said President Medvedev.

This visit to Vietnam reflects the two countries’ special relations, said the Russian President, adding that Russia is happy at Vietnam ’s great achievements in all fields.

Russia is a good friend and trustful partner of Vietnam , said President Medvedev who affirmed to exert his utmost to further develop the two countries’ relationship.

The same day, the two countries issued a joint communique on the results of the Russian President’s official visit to Vietnam .

On the afternoon of Oct. 31, President Triet and his Russian counterpart Medvedev attended the Vietnam-Russia business forum and talked with the two countries’ business communities.

Russian President Medvedev was received by Party General Secretary Nong Duc Manh and had separate meetings with National Assembly Chairman Nguyen Phu Trong and Prime Minister Nguyen Tan Dung on the afternoon of Oct. 31.

At a reception given by the Vietnamese Party leader, the Russian President affirmed to instruct the Russian Government and sectors to implement bilateral cooperation projects in economics, trade, energy, science-technology, defence security and culture-education.

He committed to promoting the fine traditional friendship and comprehensive cooperation between Russia and Vietnam within the framework of the strategic partnership to a new height.

He wished the XIth Congress of the Communist Party of Vietnam a success.

General Secretary Manh said Vietnam would contribute to promoting the ASEAN-Russia cooperation and congratulated Russia on its official admission to the East Asia Summit as of 2011.

He said he believed that the two countries would effectively collaborate in the regional connectivity mechanism.

At a meeting with NA Chairman Trong, the Russian President expressed his belief in the enhancement of the two parliaments’ friendship and cooperation, thus contributing to further developing the two countries’ relationship.

The Vietnamese NA leader affirmed that the two legislatures have made active contributions to the two countries’ relationship.

The two legislative bodies have increased the exchange of high-ranking and committee-level delegations and close coordination at the 31st General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA), the policy consultation of G20 parliamentary speakers in Canada and other multilateral inter-parliamentary forums, said Chairman Trong.

The two countries’ maintenance of political dialogues at the highest level, including the two parliaments, has created a strong foundation for the development of bilateral cooperation, said President Medvedev.

He said that Russia and Vietnam have closely coordinated in multilateral forums as well as settling global challenges.

Meanwhile, PM Dung assured President Medvedev that the Vietnamese Government would exert its utmost to implement agreements signed by the two countries’ leaders.

He proposed Russia to assist and grant preferential loans to Vietnam ’s building of a nuclear power plant as well as capital sources to make a feasibility study for the project and build the nuclear science and technology centre.

He also proposed that both sides increase cooperation in oil and gas, banking, telecom, and trade sectors and facilitating Russian businesses’ investment in Vietnam .

There remains a large prospect for bilateral cooperation, said the Russian President, noting that both countries join in settling difficulties to create favourable conditions for their businesses to expand investment cooperation and business activities, including cooperation in a third country.

Russia boasts experiences in nuclear power plant construction and will offer preferential loans in building the plant as well as enhance oil and gas cooperation, affirmed President Medvedev.

Earlier, on the morning of Oct. 31, Russian President Medvedev paid floral tributes to the Monument of War Combatants in commemoration of heroes and war martyrs and late President Ho Chi Minh at his mausoleum.

President Nguyen Minh Triet held a banquet in honour of Russian President Medvedev on the evening of Oct. 31.

Russian President Medvedev left Hanoi on the evening of Oct. 31 to conclude his official visit to Vietnam and attendance at the second ASEAN-Russia Summit./.