Deputy PM stresses further trade-investment cooperation with Russia

Deputy Prime Minister Trinh Dinh Dung has stated that Vietnam and Russia need to further increase bilateral cooperation in traditional fields whilst enabling enterprises of the two countries to grasp business opportunities arising from the sectors that both sides have advantages in.

Deputy Prime Minister Trinh Dinh Dung (fifth from left) and delegates at the meeting.

Deputy PM Dung, who accompanied Prime Minister Nguyen Xuan Phuc during his official visit to Russia from May 21-23, made the statement at a meeting with representatives from some Russian ministries and agencies. The event was held on May 23 to further boost trade and investment cooperation between the two countries.

The Deputy PM highlighted the potential for bilateral cooperation in a wide range of fields, including energy, machinery manufacturing, automobiles, and information technology. He also called for putting forth measures to lift the bilateral trade turnover to US$10 billion by 2020, a focus that leaders of both countries have put forward.

In addition, he stressed the need to enhance cultural exchanges and tourism cooperation, as well as educate younger generations on the two countries’ traditions, thus helping to strengthen traditional friendship relations between the two sides.

Dung affirmed that the Vietnam Year in Russia and the Russia Year in Vietnam are of great importance to bilateral relations between the two countries. Activities aimed to celebrate the Vietnam Year as well as the Russia Year, will be held in coincidence with marking 25 years since the signing of a treaty on basic principles for the friendship and the 70th anniversary of diplomatic ties between the two countries.

The Government official noted that an array of trade and investment promotion activities will be held on the occasion, aiming to further extend links between both nations’ business communities. These will include a Vietnam-Russia international exhibition and a Vietnam-Russia business forum.

Deputy PM Dung asserted that Vietnam strongly advocates Russia's organization of these events, and will require ministries, branches, and members of the Vietnam-Russia Intergovernmental Committee to work closely with their Russian partners to successfully hold the activities in the Southeast Asian country.

He asked the Vietnam Chamber of Commerce and Industry, the agency dedicated to supporting enterprises in Vietnam, to team up with stakeholders to prepare for the upcoming events.

David Vartamov, chairman of the board of directors of event organizations, mentioned that major activities will be held to mark the Vietnam Year in Russia and the Russia Year in Vietnam. As a result, these activities are expected to attract the participation of a large number of Russian businesses operating in Vietnam as well as those planning to enter the Vietnamese market.

VOV