The 15th session of the Vietnam-Russia Inter-Governmental Committee on Economic-Trade and Scientific-Technological Cooperation opened on October 17 in Moscow.

During the meeting, two co-Chairmen of the committee, Deputy Prime Minister Hoang Trung Hai and his Russian counterpart Igor Shuvalov briefed each other on the economic development in each country during the past years.

They reviewed the implementation of the minutes of the previous meeting which took place last November in Hanoi. While valuing the achievements, the two sides focused discussion on measures to remove difficulties and further promote the effectiveness of bilateral cooperation to match the comprehensive strategic partnership between the two countries, which was established during President Truong Tan Sang’s Russia visit in July.

The two sides agreed that though the economic-trade cooperation between the two countries has been developed positively, it is still modest compared with the potential and demand of both nations.

Two-way trade between Vietnam and Russia is estimated to reach about 3 billion USD this year.

The two Deputy PMs shared views on specific priorities that Russia can give to Vietnamese businesses operating in Russia, especially in the Far East region.

The two sides applauded the completion of a research project on the possible impacts of a free trade area between Vietnam and the Customs Union of Russia, Kazakhstan and Belarus. They agreed to finish the necessary procedures in an early date in order to officially launch the four-side negotiations in the first quarter of 2013.

They reached high consensus on the implementation process of the Vietnam-Russia Joint Plan of Actions in economic-trade and investment cooperation until 2015 and the establishment of a high-level joint working group led by Vietnam’s Minister of Industry and Trade and Russia’s Minister of Economic Development, aiming to step up bilateral cooperation projects.

Deputy PM Hai and the Vietnamese delegation are scheduled to visit Ekaterinburg city and conclude their working visit in Russia on October 20./.