The Vietnam Chamber of Commerce and Industry (VCCI) and the Russia Trade Representative Agency in Vietnam have discussed ways to boost economic cooperation between the two nations.

Speaking at the July 20 forum in Hanoi, VCCI Chairman Vu Tien Loc highlighted Vietnam and Russia’s long-lasting trade ties in various areas.

Many Vietnamese enterprises are using Russian mining machines and equipment, he said.

However, bilateral cooperation is not on a par with their huge potential, Loc said, adding that there are great opportunities for businesses from both countries to exploit investment and export projects, thus contributing to increasing two-way trade in the future.

Maxim Golikov, head of the Russia Trade Representative Agency in Vietnam said Russia is trying to attract foreign investment and is currently promoting trade relations with its partners, including Vietnam.

He said that the Russia Government creates favourable conditions for foreign businesses by simplifying administrative procedures to improve their competitive capacity and help them iron out snags.

He stressed that Russia is willing to import tropical agricultural and aquatic products from Vietnam to meet growing demand in the country, he said.

At present, two-way trade valueinvestment is estimated at about US$3-4 billion.

(VOV)