VN, Russia continue to beef up economic linkages

Deputy PM Trinh Dinh Dung (R) and Secretary of the Central Committee of the Communist Party on International Relations Leonid Kalashnikov, Ha Noi, March 12, 2018 - Photo: VGP/Xuan Tuyen

Deputy PM Dung affirmed that Viet Nam always treasured the support for Russia in national independence and construction. 

So far, Viet Nam and Russia have formulated and implemented the strategic partnership for six years with huge achievements, having made important contributions to the respective economic growth. 
Cooperation within the Viet Nam-Russia Intergovernmental Committees has flourished in various aspects especially in economic, trade, investment, and energy. Since the Viet Nam-Eurasia Economic Union Free Trade Agreement (VN-EAEU FTA) took effect on October 5, 2016, the two-way trade turnover surged sharply, touching about US$ 3.56 billion, representing a year-on-year growth of 29%. 

The host leader highlighted the contribution of political determination and new approach to the comprehensive strategic partnership. 

Regarding investment, Russia had 117 projects in Viet Nam worth over US$ 982 million, making it the 22nd largest investor out of countries and territories doing business in Viet Nam. On the other hand, Viet Nam had 18 valid projects in Russia with a total value of US$ 2.4 billion. 

According to Deputy PM Dung, the impressive figures failed to catch up with respective potentials and aspiration. He suggested the two sides spare no effort to facilitate comprehensive economic cooperation. 

In reply, Mr. Leonid Kalashnikov expressed his impression on socio-economic development in Viet Nam especially in recent years. 

The guest leader promised to do his utmost to nurture the relations among the two Parties; broaden cooperation in all areas particularly economics, trade, cultural exchanges, education, and people-to-people. 

On this occasion, the two leaders discussed measures to cement and deepen cooperation in the automobile industry, banking, and tourism./. 

By Kim Anh