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VN, Russia head to raise two-way trade value to US$10 bln by 2020

VGP – Party General Secretary Nguyen Phu Trong and State President Tran Dai Quang hosted receptions for Russian Foreign Minister Sergey Lavrov in Ha Noi on March 23 on the occasion of the Russian FM’s official visit to Viet Nam.

March 24, 2018 11:12 AM GMT+7

Party General Secretary Nguyen Phu Trong receives Russian Foreign Minister Sergey Lavrov, Ha Noi, March 23, 2018 - Photo: VNA

During a reception for the Russian FM, Mr. Trong expressed his hope that under the leadership of President Vladimir Putin, Russia will continue developing strongly and affirming its important position in the international arena.

The Party, State and people of Viet Nam always treasure traditional friendship with and give top priority to strengthening and enhancing the comprehensive strategic partnership with Russia, he added.

To reach the target of US$10 billion in two-way trade by 2020, the two sides need to create breakthroughs in implementing the Viet Nam-Eurasian Economic Union Free Trade Agreement and well carry out prioritized tasks, focusing on cooperation projects in the fields of economy, trade, investment, oil and gas and nuclear energy, he noted.

Mr. Lavrov affirmed that the Russian Ministry of Foreign Affairs is willing to accelerate the implementation of bilateral cooperation agreements in all fields, thus enhancing relations between the two nations in the coming time.

State President Tran Dai Quang receives Russian Foreign Minister Sergey Lavrov, Ha Noi, March 23, 2018 - Photo: VNA

At the meeting between State President Tran Dai Quang and the Russian FM on the same day, the Vietnamese State President also asked Lavrov to convey his congratulations to President Vladimir Putin on the latter’s re-election. 

Viet Nam always attaches importance to enhancing the comprehensive strategic partnership with Russia, he asserted, hailing the growth of bilateral trade as a result of the implementation of the Viet Nam-Eurasian Economic Union Free Trade Agreement. 

Trade between Viet Nam and Russia reached US$3.55 billion in 2017, up 31% from the previous year, which is expected to hit US$10 billion in 2020.

The two sides should actively carry out the signed agreement on cooperation in controlling the quality and safety of agro-forestry-fishery products so as to boost trade links, the State President said, asking Russia to consider permitting more Vietnamese businesses to export aquatic products to the country.

He proposed the Russian side back Vietnamese-invested projects in Russia, thus contributing to the enhancement of economic, trade and investment cooperation between the two countries.

He expressed his hope that the two sides will continue maintaining practical and effective cooperation in defense and security in the spirit of reliable strategic partnership, while raising the efficiency of existing cooperation mechanisms in the field.

He asked Russia to back Viet Nam's candidacy for a non-permanent seat in the UN Security Council in the 2020-2021 term, and hoped that the two sides will continue closely coordinating and supporting each other at multilateral forums. 

The State President also suggested Russia support Viet Nam in training human resources, create favorable conditions for the Vietnamese community to reside, work and do business in Russia, and work with Viet Nam to promote culture exchanges and tourism promotion between the two nations. 

The Vietnamese leader also urged the two sides to soon begin negotiations and sign an agreement on labor cooperation, making it easier for Viet Nam to send workers to Russia. 

Minister Lavrov stressed that his country is willing to create favorable conditions with special mechanisms for Vietnamese expats who are living and working in Russia, asserting that the Russian Government’s stance to solve citizen-related issues in line with its current legal regulations.

Russia is ready to discuss new legal mechanisms, including those related to the sending of Vietnamese laborers to work legally in Russia and increasing scholarships for Vietnamese students, he added.

By Hoang Ha