State President Truong Tan Sang has been committed to creating favourable conditions for Russian companies to do business in Vietnam.

Speaking at a joint business forum in Moscow on July 30, President Sang said Vietnam welcomes Russian businesses, especially in trade, oil and gas, energy, mining, science-technology, education-training, tourism and labour.

Economic cooperation is one of the most important aspects of Vietnam-Russia relations, President Sang said, adding that the increase in two-way trade, which is estimated to reach US$3 billion in 2012, indicates the effectiveness of bilateral economic cooperation.  

President Truong Tan Sang and Gennady Zyuganov, Chairman of the Russian Communist Party

However, it is not on a par with the two countries’ potential so both nations need to speed up the negotiation and signing of the free trade agreement (FTA) between Vietnam and the Russia, Belarus, Kazakhstan customs alliance, said Mr Sang.

The Vietnamese State leader said he believes that with joint efforts from both sides, bilateral economic cooperation will see significant development, which will contribute to strengthening the Vietnam-Russia strategic partnership.

**On the same day, President Sang met with Gennady Zyuganov, Chairman of the Russian Communist Party, who assured his guest that his party will continue to promote ties with Vietnam.

Both host and guest spoke highly of the traditional relations, mutual understanding and trust between the two communist parties. They agreed to promote exchanges of delegations to share experiences in communications and education, mass mobilization, and youth affairs, and deepen bilateral relations in the interests of both peoples and for the development of their traditional relationship and strategic partnership.

At a separate meeting with the Acting Chairman of the Federation Council, both sides discussed ways to enhance ties in lawmaking as well as supervising the implementation of signed agreements.

(VOV)