Vietnam and Russia have all the necessary conditions to bring two-way trade turnover to 20 billion USD by 2020, according to Russia ’s Deputy Minister of Economic Development Aleksei Likhachev.

The deputy minister, who is making a working visit to Vietnam , expressed his view during an August 23 exchange with ITAR-TASS reporters.

He noted that two-way trade turnover between the two countries has seen an annual growth of around 30 percent, to exceed 3.6 billion USD last year and possibly reach 4 billion USD this year.

Vietnam and Russia have set the target of increase two-way trade exchange to 7 billion USD by 2015, and if the existing dynamic trend is maintained, their bilateral trade may hit 20 billion USD by 2020, he added.-VNA