Vietnam, Russia hold huge potential for stronger economic cooperation

Oleg Vladimirovich Deripaska, founder of aluminum giant RUSAL, and Russia’s largest auto maker GAZ Group. (Photo: VNA)

Moscow (VNA) – Vietnam and Russia boast huge potential for cooperation in economy, trade and investment, and the twocountries should take the collaboration as a main priority in the bilateralrelations, a Russian industrialist has said.

Oleg Vladimirovich Deripaska, founder of aluminumgiant RUSAL, and Russia’s largest auto maker GAZ Group, said over the past 15years, two-way trade has grown stably, hitting a record high of 25.9% lastyear.

He stressed that to maximise the potential, the twocountries need to perfect common legal frameworks and implementation mechanisms,develop networks of logistics and infrastructure, with new sea routes, streamlinecustoms procedures and resume direct air routes.

The two countries should consider forming a single paymentplatform and use their currencies in payments to ease damage to exporters andimporters, Deripaska proposed.

He suggested that Russian businesses should provideraw materials for factories in the Southeast Asian nation, noting energy,transportation and logistics, maritime communications, diamond processing,forest management, pharmacy and health care, tourism and humanitarian sectors areRussia’s priority investment areas.

Deripaska also expressed his hope that the bilateralcollaboration in education, science and culture will grow further in the timeahead./.

VNA